1 May 2014
EUR/USD little changed after ISM
FXStreet (Córdoba) - The EUR/USD barely moved and remained trading near session lows after the ISM manufacturing PMI for April came in a tad stronger than expected.
ISM Manufacturing PMI rose to 54.9 in April versus 54.3 expected and 53.7 printed in March, extending its expansionary phase. However, US construction spending for March fell short of expectations by growing 0.2% versus 0.5% expected. The EUR/USD showed little reaction as ISM reading was too close to expectations to act as catalyst ahead of the nonfarm payrolls report due tomorrow.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3875, just a few pips above its opening price. As for technical levels, next resistances for EUR/USD are seen at 1.3888 (May 1 high), 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the flip side, supports could now be found at 1.3862 (May 1 low), 1.3808 (50-day SMA) and 1.3777 (Apr 30 low).
ISM Manufacturing PMI rose to 54.9 in April versus 54.3 expected and 53.7 printed in March, extending its expansionary phase. However, US construction spending for March fell short of expectations by growing 0.2% versus 0.5% expected. The EUR/USD showed little reaction as ISM reading was too close to expectations to act as catalyst ahead of the nonfarm payrolls report due tomorrow.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3875, just a few pips above its opening price. As for technical levels, next resistances for EUR/USD are seen at 1.3888 (May 1 high), 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the flip side, supports could now be found at 1.3862 (May 1 low), 1.3808 (50-day SMA) and 1.3777 (Apr 30 low).