5 Aug 2015
EUR/USD consolidates near 1.0860
FXStreet (Mumbai) - The EUR/USD pair is trading in the sideways manner around 1.0860 as investors await the US ADP and service sector data due for release later today.
Awaits US data
The spot is trading below 1.0864 after having faced rejection at 1.0894 earlier today. The recovery stalled after the data showed the Eurozone service sector activity slowed down in July.
The focus now shifts to the US ADP employment data, which is expected to show 210k growth in private sector jobs in July. The ISM non-manufacturing is seen rising to 56.2 in July from 56.00 in June. Moreover, the ADP employment figure along with the employment gauge under non-manufacturing index could influence the expectations surrounding the non-farm payrolls due for release on Friday.
EUR/USD Technical Levels
The immediate resistance is seen on the hourly chart at 1.0869, followed by a major hurdle at 1.09. On the flip side, support is seen at 1.0845 (61.8% of Mar-May rally) and 1.08 levels.
Awaits US data
The spot is trading below 1.0864 after having faced rejection at 1.0894 earlier today. The recovery stalled after the data showed the Eurozone service sector activity slowed down in July.
The focus now shifts to the US ADP employment data, which is expected to show 210k growth in private sector jobs in July. The ISM non-manufacturing is seen rising to 56.2 in July from 56.00 in June. Moreover, the ADP employment figure along with the employment gauge under non-manufacturing index could influence the expectations surrounding the non-farm payrolls due for release on Friday.
EUR/USD Technical Levels
The immediate resistance is seen on the hourly chart at 1.0869, followed by a major hurdle at 1.09. On the flip side, support is seen at 1.0845 (61.8% of Mar-May rally) and 1.08 levels.