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4 May 2015
EUR/USD regains 1.1180
FXStreet (Edinburgh) - After bottoming in the 1.1120 area, EUR/USD is now quickly recovering the ground lost and retaking the 1.1180/85 band.
EUR/USD firmer on USD weakness
The greenback is now giving away initial gains vs. the risk-associated space, allowing the current rebound in spot to levels closer to the 1.1200 mark. The pair managed to shrug off previous weakness following mixed results from manufacturing PMI prints in the euro area and a softer Sentix index.
Ahead in the session, US Factory Orders are next with consensus expecting a monthly expansion of 2.0% during March.
EUR/USD relevant levels
The pair is down 0.13% at 1.1186 and a drop below 1.1123 (low May 4) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).
EUR/USD firmer on USD weakness
The greenback is now giving away initial gains vs. the risk-associated space, allowing the current rebound in spot to levels closer to the 1.1200 mark. The pair managed to shrug off previous weakness following mixed results from manufacturing PMI prints in the euro area and a softer Sentix index.
Ahead in the session, US Factory Orders are next with consensus expecting a monthly expansion of 2.0% during March.
EUR/USD relevant levels
The pair is down 0.13% at 1.1186 and a drop below 1.1123 (low May 4) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).