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1 Jan 1970
EUR/USD clings to 1.3800
FXStreet (Edinburgh) - The EUR/USD is closing the week around the boundaries of the key barrier at 1.3800, ahead of speeches by Fed’s Kocherlakota and Stein.
EUR/USD focus on PMIs
The start of next week would be critical for the pair, as advanced March’s manufacturing PMI gauged by HSBC is due in China over the weekend (48.7 exp.), and manufacturing/services PMIs for the euro bloc are due on Monday (Germany man PMI 54.7 exp.). The speech by Bundesbank’s J.Weidman will follow, ahead of Tuesday’s German IFO. According to Camilla Sutton, Chief FX Strategist at Scotiabank, the short-term technicals remain mixed, adding, “bulloish signals have shifted rapidly with the drop in EUR. The MACD has shifted into sell territory, bus as spot settles today, support at the March 6th open at 1.3733 looks increasingly firm”.
EUR/USD significant levels
The pair is now up 0.14% at 1.3798 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).
EUR/USD focus on PMIs
The start of next week would be critical for the pair, as advanced March’s manufacturing PMI gauged by HSBC is due in China over the weekend (48.7 exp.), and manufacturing/services PMIs for the euro bloc are due on Monday (Germany man PMI 54.7 exp.). The speech by Bundesbank’s J.Weidman will follow, ahead of Tuesday’s German IFO. According to Camilla Sutton, Chief FX Strategist at Scotiabank, the short-term technicals remain mixed, adding, “bulloish signals have shifted rapidly with the drop in EUR. The MACD has shifted into sell territory, bus as spot settles today, support at the March 6th open at 1.3733 looks increasingly firm”.
EUR/USD significant levels
The pair is now up 0.14% at 1.3798 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6).