EUR/USD Unchanged Below 1.15, ECB on Sight
EUR/USD is now attempting a consolidative pattern below the 1.1500 handle amidst thin trade conditions.
EUR/USD focus on US data, ECB
The
pair is barely moving, as the usual cautiousness pre-Payrolls seems to
have taken over sentiment already. In the meantime, spot is looking to
stabilize after the recent drop from fresh 2016 highs at 1.1615 posted
on Tuesday, although finding quite decent support in the 1.1460 area for
the time being.
On the data front, the only release in the Old
Continent today will be the ECB’s Economic Bulletin, while Initial
Claims, Challenger Job Cuts and the speech by St. Louis Fed J.Bullard
are all due across the pond.
EUR/USD levels to watch
The
pair is now flat at 1.1486 and a break below 1.1467 (low May 4) would
aim for 1.1360 (20-day sma) and finally 1.1213 (low Apr.25). On the
other hand, the initial hurdle lines up at 1.1615 (2016 high May 3)
followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high
Jan.2).