4 Aug 2015
EUR/USD capped at 10-MA, back to key Fib level
FXStreet (Mumbai) - The EUR/USD spot rose to a fresh session high of 1.0987 (10-DMA), but failed to extend gains above the same and moved back closer to 1.0964 (50% of Mar-May rally).
Drops below hourly 100-MA
The pair is back below the hourly 100-MA currently located at 1.0970. The Eurozone producer price index failed to have any impact on the currency pairs, which remained buoyed throughout the European session on account of the broad based weakness in the USD triggered by the spike in the AUD/USD pair.
At the moment, the traders are ignoring the uptick in the 2-year treasury yield, which mimics the rate hike expectations in the US. Meanwhile, the benchmark US-German 10-year yield spread stays largely unchanged on the day around 153 basis points. Ahead in the day, the spot could be influenced by the US factory orders for June (expected 1.8%, previous -1.0%).
EUR/USD Technical Levels
The spot now trades around 1.0970. The immediate support is seen at 1.0964 (50% of Mar-May rally) followed by another support at 1.09 handle. On the flip side, resistance is seen at 1.10 (hourly 200-MA) and 1.1050.
Drops below hourly 100-MA
The pair is back below the hourly 100-MA currently located at 1.0970. The Eurozone producer price index failed to have any impact on the currency pairs, which remained buoyed throughout the European session on account of the broad based weakness in the USD triggered by the spike in the AUD/USD pair.
At the moment, the traders are ignoring the uptick in the 2-year treasury yield, which mimics the rate hike expectations in the US. Meanwhile, the benchmark US-German 10-year yield spread stays largely unchanged on the day around 153 basis points. Ahead in the day, the spot could be influenced by the US factory orders for June (expected 1.8%, previous -1.0%).
EUR/USD Technical Levels
The spot now trades around 1.0970. The immediate support is seen at 1.0964 (50% of Mar-May rally) followed by another support at 1.09 handle. On the flip side, resistance is seen at 1.10 (hourly 200-MA) and 1.1050.