3 Dec 2014
EUR/USD dips further, 1.2300 on sight
FXStreet (Edinburgh) - EUR/USD is now falling further, trading closer to the 1.2300 critical support ahead of US data releases.
EUR/USD muted post-ADP
Despite the ADP report failed to surprise investors today (208K act. vs. 221K exp.), the pair remained indifferent in the 1.2320 region, ahead of the more relevant ISM Non-Manufacturing (57.5 exp.) and the Fed’s Beige Book due later during the European evening. In light of tomorrow’s ECB gathering and the probable outcome, analysts at TD Securities assessed “No significant, new QE steps may see the EUR rally modestly Thursday but, with US jobs data just around the corner… means little more upside potential than the low 1.24s for EURUSD from here. Look to sell modest EUR rallies near term”.
EUR/USD levels to watch
At the moment the pair is losing 0.51% at 1.2318 and a break below 1.2295 (low Aug.20 2012) would aim for 1.2288 (low Aug.17 2012) and then 1.2256 (low Aug.16 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).
EUR/USD muted post-ADP
Despite the ADP report failed to surprise investors today (208K act. vs. 221K exp.), the pair remained indifferent in the 1.2320 region, ahead of the more relevant ISM Non-Manufacturing (57.5 exp.) and the Fed’s Beige Book due later during the European evening. In light of tomorrow’s ECB gathering and the probable outcome, analysts at TD Securities assessed “No significant, new QE steps may see the EUR rally modestly Thursday but, with US jobs data just around the corner… means little more upside potential than the low 1.24s for EURUSD from here. Look to sell modest EUR rallies near term”.
EUR/USD levels to watch
At the moment the pair is losing 0.51% at 1.2318 and a break below 1.2295 (low Aug.20 2012) would aim for 1.2288 (low Aug.17 2012) and then 1.2256 (low Aug.16 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2).