Back
2 Apr 2015
EUR/USD eased to 1.0800 on US data
FXStreet (Edinburgh) - The common currency is surrendering some gains following the US docket today, with EUR/USD testing the 1.0800 handle.
EUR/USD a tad lower on data
The pair is shedding some ground after the US trade deficit shrunk to $35.4 billion during March - levels last seen in 2009 - vs. February’s $42.68 billion, with imports falling 4.4% and exports contracting 1.6%. In addition, Initial Claims surprised to the upside, dropping to 268K in the week ended on March 20 against forecasts for 285k and previous week at 288K.
Next on tap will be US Factory Orders, with consensus expecting orders to have contracted 0.4% on a month to February.
EUR/USD levels to watch
As of writing the pair is up 0.58% at 1.0825 and a surpass of 1.0846 (high Mar.31) would aim for 1.0858 (10-d MA) and then 1.0900 (high Mar.30). On the downside, the immediate support lies at 1.0713 (low Mar.31) ahead of 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0650 (low Mar.20).
EUR/USD a tad lower on data
The pair is shedding some ground after the US trade deficit shrunk to $35.4 billion during March - levels last seen in 2009 - vs. February’s $42.68 billion, with imports falling 4.4% and exports contracting 1.6%. In addition, Initial Claims surprised to the upside, dropping to 268K in the week ended on March 20 against forecasts for 285k and previous week at 288K.
Next on tap will be US Factory Orders, with consensus expecting orders to have contracted 0.4% on a month to February.
EUR/USD levels to watch
As of writing the pair is up 0.58% at 1.0825 and a surpass of 1.0846 (high Mar.31) would aim for 1.0858 (10-d MA) and then 1.0900 (high Mar.30). On the downside, the immediate support lies at 1.0713 (low Mar.31) ahead of 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0650 (low Mar.20).