7 May 2015
EUR/USD turns negative at 1.1330
FXStreet (Edinburgh) - The single currency is now deflating from session tops vs. the greenback, sending EUR/USD to the area of 1.1335/30.
EUR/USD surrenders gains
The pair is now fading part of the initial spike to fresh tops near 1.1400 the figure on Thursday amidst the persistent sell off in the euro zone debt markets. The weakness surrounding the US dollar continues to be the main theme behind the current EUR-upside, ahead of the critical Payrolls due tomorrow (225K exp.).
Ahead in the session, US Initial Claims are expected at 280K in the week ended on May 1st while Consumer Credit Change is seen at $16.0 billion in March.
EUR/USD levels to watch
The pair is now losing 0.08% at 1.1336 with the initial hurdle at 1.1393 (high May 6) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1325 (hourly low May 7) would aim for 1.1250 (100d-MA) and then 1.1175 (low May 6).
EUR/USD surrenders gains
The pair is now fading part of the initial spike to fresh tops near 1.1400 the figure on Thursday amidst the persistent sell off in the euro zone debt markets. The weakness surrounding the US dollar continues to be the main theme behind the current EUR-upside, ahead of the critical Payrolls due tomorrow (225K exp.).
Ahead in the session, US Initial Claims are expected at 280K in the week ended on May 1st while Consumer Credit Change is seen at $16.0 billion in March.
EUR/USD levels to watch
The pair is now losing 0.08% at 1.1336 with the initial hurdle at 1.1393 (high May 6) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1325 (hourly low May 7) would aim for 1.1250 (100d-MA) and then 1.1175 (low May 6).