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2 Apr 2015

EUR/USD steadies around 1.0825

FXStreet (Mumbai) - The EUR/USD is trading steady around 1.0825, after having eased slightly from the session high of 1.0841.

Supported by buying in the EUR/GBP cross

The pair has managed to sustain around 1.0825 on the back of an uptick in the EUR/GBP cross, after the UK construction PMI data for the March missed expectations by a big margin. The EUR/GBP pair jumped to 0.7302 from 0.7380 levels after the release of the UK construction PMI data.

Meanwhile, the recovery in the US Treasury yields is capping the gains in the EUR/USD Pair. Markets now await the ECB March policy accounts and the weekly jobless claims and the monthly factory orders data in the US.

EUR/USD Technical Levels

The immediate resistance is seen at 1.0862 (10-DMA), above which gains could be extended to 1.0912. On the flip side, a break below 1.08 could drive the pair lower to 1.0756.

Apr 2, 2015

USD/JPY downside protected – KBC

The KBC Bank Research Team expects USD/JPY to maintain the 118-122 range for now.

US economy to begin its rebound – BTMU

Reviewing the US ADP report and ISM data release, Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, mentions that US NFP might add some short-term volatility to the USD trend, but the underlying bull trend remains intact as the economy is set to rebound.