EUR/USD Eyes 1.15 As Dollar Plummets
The selling pressure is not giving up on the greenback, now helping EUR/USD to clinch fresh 2016 tops near 1.15 the figure.
EUR/USD attention to Draghi, US data
The
pair is extending last week’s firm tone and trading closer to the
critical barrier around the 1.15 handle (October peaks), as the offered
tone around the dollar remains unabated.
Mixed results from
April’s manufacturing PMI have done little to change the sentiment,
while the focus of attention remains on the speech by Draghi and
releases in the US docket.
EUR/USD levels to watch
The
pair is now up 0.29% at 1.1488 and a break above 1.1492 (2016 high May
2) would target 1.1496 (monthly high Oct.15 2015) and finally 1.1713
(high Aug.24 2015). On the flip side, the immediate support aligns at
1.1346 (20-day sma) followed by 1.1213 (low Apr.25) and then 1.1211
(55-day sma).
