4 Feb 2014
EUR/USD steady on US data, Greece headlines
FXStreet (Córdoba) - The EUR/USD remained fairly steady barely above 1.3500 after the latest string of US data went virtually unnoticed.
US factory orders fell 1.5% in December, beating expectations of a 1.7% decline, while IBD/TIPP economic optimism index came in at 44.9 in February, below the 46.1 expected. On the other hand, reports have emerged suggesting Greece would need EUR 10-20 bln in third bailout package to fund 2014-15.
However, indicators and headlines failed to inspire the EUR/USD, which moved only a couple of pips lower to currently trade around 1.3505, still 0.1% below its opening price. The EUR/USD has entered a consolidation phase as cautious investors await the European Central Bank policy decision Thursday and the US nonfarm payrolls report Friday, key events that could define a fresh direction for the pair.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the pair holds neutral to slightly negative short-term tone. "If stocks recover ground, the EUR may advance further yet steady gains above 1.3550 are required to erase at least temporarily, current negative tone", said Bednarik.
Bednarik locates immediate supports at 1.3470 and 1.3440, while she sees resistances at 1.3520, 1.3550 and 1.3590.
US factory orders fell 1.5% in December, beating expectations of a 1.7% decline, while IBD/TIPP economic optimism index came in at 44.9 in February, below the 46.1 expected. On the other hand, reports have emerged suggesting Greece would need EUR 10-20 bln in third bailout package to fund 2014-15.
However, indicators and headlines failed to inspire the EUR/USD, which moved only a couple of pips lower to currently trade around 1.3505, still 0.1% below its opening price. The EUR/USD has entered a consolidation phase as cautious investors await the European Central Bank policy decision Thursday and the US nonfarm payrolls report Friday, key events that could define a fresh direction for the pair.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that the pair holds neutral to slightly negative short-term tone. "If stocks recover ground, the EUR may advance further yet steady gains above 1.3550 are required to erase at least temporarily, current negative tone", said Bednarik.
Bednarik locates immediate supports at 1.3470 and 1.3440, while she sees resistances at 1.3520, 1.3550 and 1.3590.