EUR/USD Turns Negative Below 1.1400
The single currency is now losing momentum, sending EUR/USD to test lows in the 1.1390/80 band.
EUR/USD lower despite upbeat Sentix
Spot
gained further downside pressure despite Investor’s Confidence tracked
by the Sentix index in the euro area has surpassed expectations for the
current month, coming in at 6.2 vs. 6.1 initially projected.
Collaborating
with the offered tone in EUR, European equity markets have opened on a
‘sea of green’ after mixed Payrolls results and wider trade surplus in
China during April ($45.5 billion).
Ahed in the NA session, speeches by FOMC’s Evans and Kashkari are due along with the Fed’s Labor Market Conditions Index.
EUR/USD levels to watch
The
pair is now losing 0.11 at 1.1391 facing the next support at 1.1357
(20-day sma) followed by 1.1243 (55-day sma) and finally 1.1213 (low
Apr.25). On the flip side, a break above 1.1615 (2016 high May 3) would
open the door to 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high
Jan.2).
