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20 Apr 2015
EUR/USD drops to 1.0730
FXStreet (Edinburgh) - The recovery attempt in EUR/USD lost vigour in the area of 1.0770 on Monday, prompting the current knee-jerk to the 1.0730 region.
EUR/USD focus on ZEW
The pair spent most of the time in the red territory at the beginning of the week despite the PBoC announced further easing measures over the weekend. The uncertainty regarding Greece and the upcoming Eurogroup meeting on Friday keep weighing on sentiment today, amidst a renewed buying interest around the greenback.
Moving forward to Tuesday’s docket, the ZEW Survey in Germany and the EMU is only due, with consensus expecting improvements in all of its components for the current month.
EUR/USD levels to consider
The pair is now losing 0.71% at 1.0730 and a breakdown of 1.0712 (low Apr.20) would open the door to 1.0708 (10-d MA) and finally 1.0704 (Tenkan Sen). On the flip side, the initial hurdle aligns at 1.0799 (21-d MA) followed by 1.0825 (high Apr.20) and then 1.0849 (high Apr.17).
EUR/USD focus on ZEW
The pair spent most of the time in the red territory at the beginning of the week despite the PBoC announced further easing measures over the weekend. The uncertainty regarding Greece and the upcoming Eurogroup meeting on Friday keep weighing on sentiment today, amidst a renewed buying interest around the greenback.
Moving forward to Tuesday’s docket, the ZEW Survey in Germany and the EMU is only due, with consensus expecting improvements in all of its components for the current month.
EUR/USD levels to consider
The pair is now losing 0.71% at 1.0730 and a breakdown of 1.0712 (low Apr.20) would open the door to 1.0708 (10-d MA) and finally 1.0704 (Tenkan Sen). On the flip side, the initial hurdle aligns at 1.0799 (21-d MA) followed by 1.0825 (high Apr.20) and then 1.0849 (high Apr.17).