Forex: EUR/USD treading water around 1.3100

Forex: EUR/USD treading water around 1.3100

May 5 • Forex News • 1637 Views • Comments Off on Forex: EUR/USD treading water around 1.3100

The single currency is closing the week in the positive ground for the first time after two consecutive weeks in red, consolidating around the key level at 1.3100 after the US economy created 165K jobs during April, exceeding expectations and previous print.

Moving forward to Monday’s docket, Services PMI prints in China and the euro area will be in the limelight, ahead of the Sentix index and Retail Sales in the bloc, all preceding the speech by ECB President M.Draghi. No data are expected across the pond but a 3m and 6m Bill Auction.

As of writing, the cross is up 0.33% at 1.3108 and a break above 1.3220 (high May 2) would open the door to 1.3231 (daily cloud top) and then 1.3243 (high May 1).
On the flip side, support levels line up at 1.3033 (low May 3) ahead of 1.3015 (low Apr.29) and then 1.3000 (MA30d). – FXstreet.com (Barcelona)

Forex: EUR/USD treading water around 1.3100

 

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