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20 May 2015
EUR/USD dips to 1.1100
FXStreet (Edinburgh) - The selling pressure remains unabated around the single currency on Wednesday, with EUR/USD now finding some support in the 1.1100 neighbourhood.
EUR/USD hurt by ECB, focus on FOMC
The effects of yesterday’s comments by ECB’s Coeure and Noyer remains hovering over market participants today, sending spot to test session lows near the 1.1100 key handle.
Data wise in Euroland, the only scheduled release today were Producer Prices in Germany, rising 0.1% MoM in April and contracting 1.5% over the last twelve months. In addition, the FOMC minutes will be the main event ahead, putting the ongoing USD rally under pressure.
EUR/USD relevant levels
As of writing the pair is down 0.38% at 1.1106 with the next support at 1.1067 (low May 5) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
EUR/USD hurt by ECB, focus on FOMC
The effects of yesterday’s comments by ECB’s Coeure and Noyer remains hovering over market participants today, sending spot to test session lows near the 1.1100 key handle.
Data wise in Euroland, the only scheduled release today were Producer Prices in Germany, rising 0.1% MoM in April and contracting 1.5% over the last twelve months. In addition, the FOMC minutes will be the main event ahead, putting the ongoing USD rally under pressure.
EUR/USD relevant levels
As of writing the pair is down 0.38% at 1.1106 with the next support at 1.1067 (low May 5) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).