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Forex: EUR/USD keeps the buoyancy above 1.2800

FXstreet.com (Barcelona) - The shared currency remains in the upper end of today’s range so far, hovering over 1.2810/15 after the Greek manufacturing PMI fell to 42.1 in March, showing that the crisis in that sector is far from over.

“We remain concerned that from a technical perspective the euro is stretched. The new four-month lows were not confirmed by the RSI… In addition, we note that euro has not closed above its 20-day moving average since Feb 13. It will come in just above $1.2940 on Monday and is falling more than 10 pips a day”, noted Marc Chandler, Head of Currency Strategy at Brown Brothers Harriman.

At the moment, the pair is up 0.04% at 1.2811 with the next resistance at 1.2884 (MA200d) followed by 1.3050 (high Mar.25) and then 1.3163 (high Feb.28).
On the flip side, a breakdown of 1.2751 (low Mar.27) would bring 1.2730 (low Nov.19).

Greece: Markit Manufacturing PMI decreases to 42.1 in Mar from 43 in Feb

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Forex: GBP/USD advances through 1.5200

The GBP/USD is advancing during the London morning, having recovered the 1.5200 handle and trading at 1.5217, as of writing, close to Friday’s high at 1.5219. Further on the upside is 1.5260, last week’s high that might keep the pair from more gains.
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