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4 May 2015
EUR/USD drops to 1.1150
FXStreet (Edinburgh) - The common currency is now losing the grip vs. the greenback, with EUR/USD testing session lows in the mid-1.1100s.
EUR/USD weaker after PMIs
Spot is accelerating the daily decline after mixed results from the final manufacturing PMIs in the euro region for the month of April. In fact, results from Spain and France came in below estimates while Germany, Italy and EMU have all surpassed expectations.
Ahead in the session, investor confidence in the euro area tracked by the Sentix index is due (19.8 exp.) followed by US Factory Orders, expected to have expanded 2.0% MoM during March.
EUR/USD relevant levels
The pair is down 0.40% at 1.1155 and a drop below 1.1100 (psychological level) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).
EUR/USD weaker after PMIs
Spot is accelerating the daily decline after mixed results from the final manufacturing PMIs in the euro region for the month of April. In fact, results from Spain and France came in below estimates while Germany, Italy and EMU have all surpassed expectations.
Ahead in the session, investor confidence in the euro area tracked by the Sentix index is due (19.8 exp.) followed by US Factory Orders, expected to have expanded 2.0% MoM during March.
EUR/USD relevant levels
The pair is down 0.40% at 1.1155 and a drop below 1.1100 (psychological level) would expose 1.1072 (low Apr.30) and finally 1.0959 (low Apr.29). On the upside, the immediate hurdle aligns at 1.1225 (high May 4) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26).