EUR/USD Wobbling Around 1.1400

EUR/USD Wobbling Around 1.1400

9 May 2016, 14:59
Roberto Jacobs

EUR/USD Wobbling Around 1.1400

EUR/USD is now attempting to regain the 1.1400 handle after bottoming out near 1.1370 earlier in the session.

EUR/USD attention to risk trends, US data

The pair keeps the narrow range at the beginning of the week, meandering between 1.1370 and 1.1420 against a backdrop of USD strength and alternating risk appetite trends.

In the data space, German Factory Orders have surpassed estimates in March, while Investor Sentiment in the euro region tracked by the Sentix index has come in above initial forecasts. Next on tap will be the Fed’s LMCI and the speech by FOMC’s Kashkari.

EUR/USD levels to watch

The pair is now up 0.01 at 1.1405 and 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). On the other hand, the immediate support aligns at 1.1357 (20-day sma) followed by 1.1243 (55-day sma) and finally 1.1213 (low Apr.25).


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