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2 Apr 2015
EUR/USD on the rise ahead of the European session
FXStreet (Mumbai) - The shared currency caught a bid wave ahead of the European sessions, taking the EUR/USD pair higher to 1.0790 levels.
Focus on ECB accounts
The investors await the ECB’s accounts of its early March monetary policy meeting due at 13.30 GMT. The accounts may provide a look at what proposals were considered as the Bank finalized the modality of the purchases that were announced in January. Apart from that, any news on Greece issue could influence the EUR/USD pair.
In the meantime, a weaker-than-expected ADP employment released in the US on Wednesday could keep the USD under pressure. Later in the day, the weekly jobless claims report and the factors orders report may trigger some volatility in the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.08 (5-DMA), above which gains could be extended to 1.0852. On the flip side, a break below 1.0755 could drive the pair lower to 1.0711.
Focus on ECB accounts
The investors await the ECB’s accounts of its early March monetary policy meeting due at 13.30 GMT. The accounts may provide a look at what proposals were considered as the Bank finalized the modality of the purchases that were announced in January. Apart from that, any news on Greece issue could influence the EUR/USD pair.
In the meantime, a weaker-than-expected ADP employment released in the US on Wednesday could keep the USD under pressure. Later in the day, the weekly jobless claims report and the factors orders report may trigger some volatility in the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.08 (5-DMA), above which gains could be extended to 1.0852. On the flip side, a break below 1.0755 could drive the pair lower to 1.0711.