EUR/USD doesn’t look away from the ECB

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The EUR/USD is accomplishing modest intraday gains, with Eurozone services PMIs and retail sales having virtually no impact, as investors await the outcome of the European Central Bank policy meeting and the US nonfarm payrolls.



The EUR/USD found support once again at the 1.3640 area and managed to recoup losses at the beginning of the European session. However, with the bounce being capped by 1.3665, the pair has been confined to a consolidative range ahead of key events. At time of writing, the euro is trading at 1.3655, virtually unchanged since opening.



While the ECB is expected to keep policy unchanged, US nonfarm payrolls consensus calls for an above 200K job creation in June.



EUR/USD technical levels



As for technical levels, the EUR/USD could find next resistances at 1.3673 (200-day SMA), 1.3700 (psychological level) and 1.3722 (May 21 high). On the flip side, supports are seen at 1.3640 (Jul 2 low), 1.3608 (Jun 27 low) and 1.3575 (Jun 26 & 23 lows).



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    US session recap: USD index and stocks rally for record highs

  3. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  4. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

  5. Forex News

    Euro Struggles Ahead of Greek Election- USD/CAD Carves Lower Highs

Trading Center