EUR/USD Unchanged Below 1.15, ECB on Sight

EUR/USD Unchanged Below 1.15, ECB on Sight

5 May 2016, 08:35
Roberto Jacobs

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).


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