4 Apr 2014
EUR/USD treading water around 1.3700
FXStreet (Edinburgh) - The single currency is struggling to keep the trade around 1.3700 the figure on Friday, with the EUR/USD yet unable to gather significant traction.
EUR/USD subdued after Payrolls
The pair attempted a spike to the area of 1.3730 in the wake of March Payrolls, although it was ephemeral. “With data like this, Fed chairman Yellen can continue to pursue her course of tapering, and remain comfortable that the Fed is not falling behind the curve in terms of continuing labour market slack”, commented Rob Carnell, Analyst at ING Bank NV. The prevailing selling interest around the single currency later dragged spot to sub-1.3680 levels, where buyers turned up and lifted the pair to the area of 1.3700 amidst rumours of some sort of QE to be implemented by the ECB.
EUR/USD levels to consider
The pair is now losing 0.12% at 1.3703 with the next support at 1.3685 (daily cloud top) followed by 1.3672 (low Apr.4) and finally 1.3647 (daily cloud base). On the upside, a break above 1.3732 (high Apr.4) would target 1.3808 (high Apr.3) en route to 1.3820 (high Apr.2).
EUR/USD subdued after Payrolls
The pair attempted a spike to the area of 1.3730 in the wake of March Payrolls, although it was ephemeral. “With data like this, Fed chairman Yellen can continue to pursue her course of tapering, and remain comfortable that the Fed is not falling behind the curve in terms of continuing labour market slack”, commented Rob Carnell, Analyst at ING Bank NV. The prevailing selling interest around the single currency later dragged spot to sub-1.3680 levels, where buyers turned up and lifted the pair to the area of 1.3700 amidst rumours of some sort of QE to be implemented by the ECB.
EUR/USD levels to consider
The pair is now losing 0.12% at 1.3703 with the next support at 1.3685 (daily cloud top) followed by 1.3672 (low Apr.4) and finally 1.3647 (daily cloud base). On the upside, a break above 1.3732 (high Apr.4) would target 1.3808 (high Apr.3) en route to 1.3820 (high Apr.2).