Shares 165 Views
Uncategorized

EUR/USD keeps lows near 1.0750 post-Sentix

The EUR/USD pair pays no heed to the Eurozone macro updates, as the sentiment around major continues to be driven by the USD dynamics.

EUR/USD eyes 20-DMA at 1.0718

Currently, the spot drops -033% to 1.0747, testing session lows struck at 1.0743 in the last hour. The main currency pair remains heavily offered in the European session, as the greenback picked-up significant strength over the last hours, correcting a part of downbeat US jobs report-led slide.

While on the EUR-side, the shared currency was little impressed by a stronger German factory orders print and in-line with estimates Eurozone Sentix Investor Confidence numbers. The Sentix gauge came in at 17.4 in Jan, while the German factory orders jumped 5.2% in Dec versus 1.7% expectations.

However, markets believe that falling treasury yields and weaker European markets could underpin the demand for the euro as a funding currency and therefore, cushion the downside in the spot. Next of note for the major remains the speech scheduled from ECB President Draghi later today.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0800 (round number). A break beyond the last, doors will open for a test of 1.0814 (8-week high) and from there to 1.0850 (psychological levels). On the flip side, the immediate support is placed at 1.0718/03 (20 & 100-DMA) below which 1.0681 (Jan 31 low) and 1.0655 (Jan 26 low) could be tested.

You may be interested

shares13 views

Opinion | What is a Security Token Offering (STO) and Why You Need an Advisor

Brian Evans - Oct 08, 2018

About the Author: Jaron Lukasiewicz is the CEO and founder of Influential Capital. Jaron has been an executive in the industry since 2012, previously serving as CEO of Coinsetter, one…

shares18 views

World Economic Forum: Blockchains improve Global Economy

Brian Evans - Oct 08, 2018

Beginning as a technology for financial ledgers only, blockchains have grown to become the corporate hype word around the globe. It’s touted as the invention that will…

shares24 views

‘Rehypothecation’: More about the Wall Street Practice that Could Ruin Bitcoin

Brian Evans - Oct 08, 2018

Note: This is part 4 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews…

Most from this category

%d bloggers like this: