Back

EUR/USD weakens after 1.3725 failure

FXStreet (Bali) - EUR/USD is trading a tad softer during Asian hours, currently at 1.3714 following topside failure at the 1.3724 intraday resistance.

The Euro's heavy tone follows a fall from 1.3806 high last Thursday, as a response to the more dovish approach by ECB Presiden Mario Draghi on Thursday's monetary policy meeting, in which, as Kathy Lien, Co-Founder at BK Asset Management, notes "re-emphasizing the possibility of more stimulus was the most important takeaway."

Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The bearish tone prevails with the hourly chart showing price developing below the 50% retracement of its latest bullish run, and indicators recovering some from extreme oversold readings. In the 4 hours chart the technical picture is also quite bearish, with immediate support now around 1.3640/60 price zone, where daily lows and highs converge with a long term ascendant trend line."

Risk of USD strength on positive NFP - RBS

Brian Daingerfield, FX Strategist at RBS, expects a solid 220k gain in the NFP number later today, whcih in his opinion, would lead to USD strength across the board.
Leia mais Previous

AUD/NZD: Potential for 2nd squeeze to retest 1.0950 - ANZ

Tim Riddell, Head of Global Markets Research at ANZ, thinks AUD/NZD has the potential for a second squeeze higher towards 1.0950.
Leia mais Next