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1 Apr 2015
EUR/USD back to 1.0770
FXStreet (Edinburgh) - The common currency remains in the positive territory helped by a softer tone from the greenback, with EUR/USD now gyrating around 1.0770.
EUR/USD revived by US data
Poor releases in the US economy today showed the key ISM Manufacturing and the ADP report missing market expectations during March, adding selling interest to the dollar and sending spot to the 1.0800 neighbourhood.
However, and apart from the spike post-data, the situation in Greece remains the main driver of the pair’s price action. The Hellenic country submitted a 26-page list of reforms to the Brussels Group, although EU officials have already ruled out any immediate agreement or bailout disbursements. Officials instead said that negotiations could resume in the next EcoFin meeting on 24th April.
EUR/USD relevant levels
At the moment the pair is advancing 0.38% at 1.0773 with the next up barrier at 1.0801 (high Apr.1) ahead of 1.0846 (high Mar.31) and then 1.0900 (high Mar.30). On the downside, a breach of 1.0713 (low Mar.31) would aim for 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19).
EUR/USD revived by US data
Poor releases in the US economy today showed the key ISM Manufacturing and the ADP report missing market expectations during March, adding selling interest to the dollar and sending spot to the 1.0800 neighbourhood.
However, and apart from the spike post-data, the situation in Greece remains the main driver of the pair’s price action. The Hellenic country submitted a 26-page list of reforms to the Brussels Group, although EU officials have already ruled out any immediate agreement or bailout disbursements. Officials instead said that negotiations could resume in the next EcoFin meeting on 24th April.
EUR/USD relevant levels
At the moment the pair is advancing 0.38% at 1.0773 with the next up barrier at 1.0801 (high Apr.1) ahead of 1.0846 (high Mar.31) and then 1.0900 (high Mar.30). On the downside, a breach of 1.0713 (low Mar.31) would aim for 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0618 (low Mar.19).