5 Mar 2015
EUR/USD steady on German data
FXStreet (Edinburgh) - The shared currency kept the range after the release of Factory Orders in the German economy, with EUR/USD testing lows in the 1.1040/30 band.
EUR/USD weaker into the ECB
The pair keeps the negative tone after German Factory Orders contracted at a seasonally adjusted monthly pace of 3.9%, below the 1.0% contraction expected and much lower than December’s 4.4% expansion.
Ahead in the session, the ECB gathering will be the main highlight with the implementation of the ‘quantitative easing’ programme taking centre stage.
EUR/USD levels to consider
As of writing the pair is retreating 0.37% at 1.1034 facing the next support at 1.1000 (psychological level) ahead of 1.0914 (low Sep.5 2003) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD weaker into the ECB
The pair keeps the negative tone after German Factory Orders contracted at a seasonally adjusted monthly pace of 3.9%, below the 1.0% contraction expected and much lower than December’s 4.4% expansion.
Ahead in the session, the ECB gathering will be the main highlight with the implementation of the ‘quantitative easing’ programme taking centre stage.
EUR/USD levels to consider
As of writing the pair is retreating 0.37% at 1.1034 facing the next support at 1.1000 (psychological level) ahead of 1.0914 (low Sep.5 2003) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).