24 Mar 2015
EUR/USD challenges lows near 1.0920
FXStreet (Edinburgh) - The single currency is now losing the grip vs. the US dollar, relegating EUR/USD to test the lower bound of the daily range around 1.0920/15.
EUR/USD softer post-US data
The pair is coming down from session highs beyond 1.1030 following higher than expected inflation figures in the US economy during the last month.
Adding to the current wave of USD-buying, the US manufacturing PMI gauged by Markit surpassed both forecasts and previous print for the current month, coming in at 55.3 while New Home Sales increased by 539K (or 7.8%) from January to February vs. 470K previously estimated.
EUR/USD important levels
The pair is now losing 0.22% at 1.0921 and a break below 1.0909 (21-d MA) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).
EUR/USD softer post-US data
The pair is coming down from session highs beyond 1.1030 following higher than expected inflation figures in the US economy during the last month.
Adding to the current wave of USD-buying, the US manufacturing PMI gauged by Markit surpassed both forecasts and previous print for the current month, coming in at 55.3 while New Home Sales increased by 539K (or 7.8%) from January to February vs. 470K previously estimated.
EUR/USD important levels
The pair is now losing 0.22% at 1.0921 and a break below 1.0909 (21-d MA) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).