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27 Mar 2014
EUR/USD indifferent on US GDP
FXStreet (Edinburgh) - The single currency remained apathetic after the US docket on Thursday, with the EUR/USD keeping the trade around 1.3760/55.
EUR/USD supported at 1.3740
After dipping to the 3-week lows in the vicinity of 1.3740, spot managed to gather some steam and recover 1.3760, although still submerged into the red territory. Softer US GDP results (2.6% YoY in Q4) failed to give wings to the pair, as a very positive reading from the US weekly report on the labour market (Claims dropped to 311K) kept the greenback supported. Next on tap will be Pending Home Sales (0.0% MoM exp.).
EUR/USD levels to watch
As of writing the pair is losing 0.11% en 1.3762 and a breakdown of 1.3722 (50% of 1.3477-1.3967) would target 1.3720 (low Mar.6) en route to 1.3707 (low Mar.5). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).
EUR/USD supported at 1.3740
After dipping to the 3-week lows in the vicinity of 1.3740, spot managed to gather some steam and recover 1.3760, although still submerged into the red territory. Softer US GDP results (2.6% YoY in Q4) failed to give wings to the pair, as a very positive reading from the US weekly report on the labour market (Claims dropped to 311K) kept the greenback supported. Next on tap will be Pending Home Sales (0.0% MoM exp.).
EUR/USD levels to watch
As of writing the pair is losing 0.11% en 1.3762 and a breakdown of 1.3722 (50% of 1.3477-1.3967) would target 1.3720 (low Mar.6) en route to 1.3707 (low Mar.5). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).