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4 Feb 2015
EUR/USD struggles to hold above 1.1400
FXStreet (Córdoba) - EUR/USD made an appearance below the 1.1400 mark at the beginning of the New York session as the euro weakened across the board while investors follow Greek debt negotiations.
EUR/USD gave up some of yesterday’s gains and hit a fresh daily low of 1.1398 before finding support. At time of writing, the pair is trading at 1.1410, 0.59% below its opening price.
Meanwhile, a string of US data had little impact on the dollar as main attention remains in Greek debt talks and the nonfarm payrolls report to be released on Friday. Consensus expects jobs to expand by 235,000 down from a gain of 252,000 in December.
Ahead of the government figures, ADP reported US private sector created 213,000 jobs in January versus 225,000 expected. Meanwhile, the ISM non-manufacturing PMI rose to 56.7 from 56.2 in December, slightly above the 56.6 reading expected.
EUR/USD technical levels
As for technical levels, if EUR/USD breaks decisively below 1.1400, next supports are seen at 1.1334 (10-day SMA), 1.1312 (Feb 3 low) and 1.1300 (psychological level). On the other hand, resistances line up at 1.1484 (daily high), 1.1500 (psychological level) and 1.1530/33 (21-day SMA/Feb 3 high).
EUR/USD gave up some of yesterday’s gains and hit a fresh daily low of 1.1398 before finding support. At time of writing, the pair is trading at 1.1410, 0.59% below its opening price.
Meanwhile, a string of US data had little impact on the dollar as main attention remains in Greek debt talks and the nonfarm payrolls report to be released on Friday. Consensus expects jobs to expand by 235,000 down from a gain of 252,000 in December.
Ahead of the government figures, ADP reported US private sector created 213,000 jobs in January versus 225,000 expected. Meanwhile, the ISM non-manufacturing PMI rose to 56.7 from 56.2 in December, slightly above the 56.6 reading expected.
EUR/USD technical levels
As for technical levels, if EUR/USD breaks decisively below 1.1400, next supports are seen at 1.1334 (10-day SMA), 1.1312 (Feb 3 low) and 1.1300 (psychological level). On the other hand, resistances line up at 1.1484 (daily high), 1.1500 (psychological level) and 1.1530/33 (21-day SMA/Feb 3 high).