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23 Oct 2015
EUR/USD keeps the low-1.1100s ahead of PMIs
FXStreet (Edinburgh) - The single currency is posting marginal gains vs. the greenback at the end of the week, with EUR/USD hovering over the 1.1115/20 band so far.
EUR/USD weak post-ECB
Despite current small gains, the demand for the shared currency remains subdued after the ECB has left the door open for further easing measures, most likely to be announced at the December meeting.
In the meantime, flash manufacturing and services PMIs in the euro region will be in the limelight today, although their potential to impact on sentiment – particularly after the ECB - remains flat.
EUR/USD relevant levels
As of writing the pair is up 0.07% at 1.1117 and a breakdown of 1.1063 (6-month uptrend) would expose 1.1021 (23.6% Fibo of 1.0808-1.1713) and finally 1.1000 (psychological level). On the flip side, the next hurdle lines up at 1.1153 (61.8% Fibo of 1.0808-1.1713) followed by 1.1177 (100-day sma) and then 1.1200 (psychological handle).
EUR/USD weak post-ECB
Despite current small gains, the demand for the shared currency remains subdued after the ECB has left the door open for further easing measures, most likely to be announced at the December meeting.
In the meantime, flash manufacturing and services PMIs in the euro region will be in the limelight today, although their potential to impact on sentiment – particularly after the ECB - remains flat.
EUR/USD relevant levels
As of writing the pair is up 0.07% at 1.1117 and a breakdown of 1.1063 (6-month uptrend) would expose 1.1021 (23.6% Fibo of 1.0808-1.1713) and finally 1.1000 (psychological level). On the flip side, the next hurdle lines up at 1.1153 (61.8% Fibo of 1.0808-1.1713) followed by 1.1177 (100-day sma) and then 1.1200 (psychological handle).