30 Apr 2015
EUR/USD erases gains, threatens to fall into losses
FXStreet (Mumbai) - The US dollar is being bid higher on an upbeat weekly jobless claims data, which pushed the EUR/USD to 1.1120 levels.
EUR/USD: Could end 5-day rally
The pair fell from 1.1182 to trade at 1.1120 levels after the last week’s initial jobless claims printed at the 15-year low. So far, the pair has managed to avoid falling into losses, mainly on account of the hardening of the German Bund yields. Meanwhile, the better-than-expected Chicago PMI at 52.3 failed to have any impact on the pair.
The pair is pretty much unchanged on the day now, which increases the probability it falling into losses, especially if the German Bund yields give up their gains.
EUR/USD Technical Levels
The pair currently trades at its 100-DMA at 11.20. A failure to sustain above the same could drive the pair lower to 1.1050. On the flip side, a re-test of 1.1180 could be seen in case the pair manages to sustain above its 100-DMA.
EUR/USD: Could end 5-day rally
The pair fell from 1.1182 to trade at 1.1120 levels after the last week’s initial jobless claims printed at the 15-year low. So far, the pair has managed to avoid falling into losses, mainly on account of the hardening of the German Bund yields. Meanwhile, the better-than-expected Chicago PMI at 52.3 failed to have any impact on the pair.
The pair is pretty much unchanged on the day now, which increases the probability it falling into losses, especially if the German Bund yields give up their gains.
EUR/USD Technical Levels
The pair currently trades at its 100-DMA at 11.20. A failure to sustain above the same could drive the pair lower to 1.1050. On the flip side, a re-test of 1.1180 could be seen in case the pair manages to sustain above its 100-DMA.