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4 Feb 2015
EUR/USD hits fresh session lows ahead of US open
FXStreet (Mumbai) - EUR/USD continued its see-saw movement, swinging between gains and losses and remains in red as markets now turn their attention towards US ADP jobs data.
US data eyed
The EUR/USD now trades at 1.1442 levels, down -0.33% on the day, close to fresh session lows at 1.1436 posted few minutes ago. EUR/USD remains pressured, despite better than forecasts macro data from the Euro area economies, as market participants eagerly wait for a US employment report.
The ADP employment change is expected to soften from last month's 241,000 to 220,000, while the ISM services PMI will also be released, with expectations of 56.4 points in January, slightly up from 56.2 in December.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1500 levels, above which gains could be extended to 1.1534 (Feb 3 High) levels. On the flip side, support is seen at 1.1400 levels, below which it could extend losses to 1.1316 (Jan 22 Low).
US data eyed
The EUR/USD now trades at 1.1442 levels, down -0.33% on the day, close to fresh session lows at 1.1436 posted few minutes ago. EUR/USD remains pressured, despite better than forecasts macro data from the Euro area economies, as market participants eagerly wait for a US employment report.
The ADP employment change is expected to soften from last month's 241,000 to 220,000, while the ISM services PMI will also be released, with expectations of 56.4 points in January, slightly up from 56.2 in December.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1500 levels, above which gains could be extended to 1.1534 (Feb 3 High) levels. On the flip side, support is seen at 1.1400 levels, below which it could extend losses to 1.1316 (Jan 22 Low).