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2 Mar 2016
EUR/USD weaker, visits 1.0840 on ADP
The shared currency keeps the negative bias today, with EUR/USD briefly testing fresh lows in the 1.0840 region post-ADP.
EUR/USD still in red after ADP, attention to Beige Book
Spot is visiting daily lows around 1.0840 after the ADP report showed the US private sector employment increased by 214K from January to February, surpassing prior estimates at 190K and up from January’s 193K (revised from 205K).
The pair remains entrenched in the negative territory, coming down from overnight peaks in the vicinity of 1.0880 and eroding yesterday’s gains ahead of the Fed’s Beige Book due later in the NA session.
EUR/USD levels to watch
The pair is now losing 0.20% at 1.0846 and a break below 1.0832 (low Mar.1) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5). On the other hand, the next up barrier aligns at 1.0930 (100-day sma) ahead of 1.1047 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move).
EUR/USD still in red after ADP, attention to Beige Book
Spot is visiting daily lows around 1.0840 after the ADP report showed the US private sector employment increased by 214K from January to February, surpassing prior estimates at 190K and up from January’s 193K (revised from 205K).
The pair remains entrenched in the negative territory, coming down from overnight peaks in the vicinity of 1.0880 and eroding yesterday’s gains ahead of the Fed’s Beige Book due later in the NA session.
EUR/USD levels to watch
The pair is now losing 0.20% at 1.0846 and a break below 1.0832 (low Mar.1) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5). On the other hand, the next up barrier aligns at 1.0930 (100-day sma) ahead of 1.1047 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move).