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Forex pairs in this Article » EUR/USD (Edinburgh) - The shared currency keeps the area of multi-day lows on Thursday, taking the EUR/USD to the region of 1.3420/25 ahead of key PMI results.

EUR/USD under pressure

Recent rumours citing the likeliness of the ECB to implement negative deposit rates continue to exert their sedative effects on the pair, retracing most of last week’s gains and hovering now over the low 1.34s. The crowded docket in both the euro area and the US would keep the pair under the microscope, with advanced PMI prints, ECB’s Draghi’s speech and the preliminary gauge of the Consumer Confidence. Across the pond, Initial Claims, flash manufacturing PMI sponsored by Markit, the Philly Fed Manufacturing Survey and speeches by Fed’s Lacker and Bullard.

EUR/USD key levels

At the moment the pair is down 0.01% at 1.3430 with the immediate support at 1.3415 (low Nov.20) ahead of 1.3390 (low Nov.13) and finally 1.3359 (low Nov.12). On the flip side, a breakout of 1.3454 (MA10d) would expose 1.3559 (MA21d) and then 1.3584 (high Nov.20).
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