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2 Apr 2014
EUR/USD sub 1.38 handle, down -0.19%
FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.3767, down -0.19% on the day, having posted a daily high at 1.3821 and low at 1.3766.
The USD is making some ground on a number of bullish developments in the US, breaking down through the 1.38 handle. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise. Also worth noting, US yields are still rising in the wake of the data, US 10 year notes are up moving towards resistance area seen 2.80/2.82%.
EUR/USD downside strength
EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 35.47, down from it’s last hourly close at 37.86, while ADX is ranging above 30 at 18.34, down from 22.44 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 50.65. The 200 SMA is currently at 1.3789, up from 1.3786 at the last period close, and climbing on the hourly EUR/USD chart. Moving with a range bound trend, the exponential average closing price is 1.3798.
EUR/USD Levels
Spot is presently trading at 1.3768, and next resistance can be seen at 1.3768 (Yesterday's Low), 1.3769 (Daily Classic S1), 1.3770 (Hourly 100 SMA), 1.3778 (Weekly Classic PP) and 1.3786 (Hourly 200 SMA). Next support to the downside can be found at 1.3766 (Daily Low), 1.3745 (Daily Classic S2), 1.3741 (Weekly Low), 1.3730 (Monthly Low) and 1.3721 (Daily Classic S3).
The USD is making some ground on a number of bullish developments in the US, breaking down through the 1.38 handle. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise. Also worth noting, US yields are still rising in the wake of the data, US 10 year notes are up moving towards resistance area seen 2.80/2.82%.
EUR/USD downside strength
EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 35.47, down from it’s last hourly close at 37.86, while ADX is ranging above 30 at 18.34, down from 22.44 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 50.65. The 200 SMA is currently at 1.3789, up from 1.3786 at the last period close, and climbing on the hourly EUR/USD chart. Moving with a range bound trend, the exponential average closing price is 1.3798.
EUR/USD Levels
Spot is presently trading at 1.3768, and next resistance can be seen at 1.3768 (Yesterday's Low), 1.3769 (Daily Classic S1), 1.3770 (Hourly 100 SMA), 1.3778 (Weekly Classic PP) and 1.3786 (Hourly 200 SMA). Next support to the downside can be found at 1.3766 (Daily Low), 1.3745 (Daily Classic S2), 1.3741 (Weekly Low), 1.3730 (Monthly Low) and 1.3721 (Daily Classic S3).