EUR/USD Around 1.1350 ahead of German, EMU Data

EUR/USD Around 1.1350 ahead of German, EMU Data

7 June 2016, 08:50
Roberto Jacobs
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EUR/USD Around 1.1350 ahead of German, EMU Data

The single currency has deflated from recent highs vs. the greenback, taking EUR/USD back to the mid-1.1300s.

EUR/USD capped by 1.1400

The pair remained apathetic despite Chairwoman J.Yellen downplayed the disappointing figures from Friday’s US Payrolls (38K) at her speech on Monday, keeping alive the likeliness of a potential rate hike at some point in the next months.

Spot briefly tested the boundaries of 1.14 the figure, although the bullish attempt lost vigour and eased towards the current 1.1350 area.

Ahead in the session, German Industrial Production figures and EMU’s Q1 GDP results will be in the limelight. Across the pond, second tier releases will leave the attention to the API report on crude stockpiles.

EUR/USD levels to watch

The pair is now up 0.02% at 1.1357 and a break above 1.1393 (high Jun.6) would expose 1.1448 (high May 11) and finally 1.1466 (high Apr.12). On the flip side, the immediate support lines up at 1.1310 (55-day sma) followed by 1.1242 (20-day sma) and then 1.1200 (100-day sma).


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