EURUSD Intraday Technical Outlook


Today’s US economic docket features the release of ISM non-manufacturing PMI and would again be looked upon for some fresh trading impetus. In the meantime, examine this 4 April EURUSD Intraday Technical Outlook and be updated on how the pair now trades.

4 April, OctaFX – With investors looking past today’s preliminary EZ inflation figures, the pair lost some ground after the latest ADP report showed that the US private sector employers added 241K new jobs during the month of March.

The reading surpassed even the most optimistic estimates and was also better than previous month’s reading 235K, which provided a minor boost to the greenback.

EURUSD Bearish Below 1.2300 Level

The euro has moved back towards the pivotal 1.2300 level against the greenback, after better than EU Unemployment data and marginal intraday weakness in the U.S dollar.

The EURUSD pair currently trades around the 1.2290 level, after falling to sustained price-action above the 1.2300 level. Traders now look to updates on further possible Chinese trade tariffs and the release of monthly jobs data from the United States economy.

4 April EURUSD Intraday Technical Outlook

  • The EURUSD pair retains a bearish bias whilst trading below the 1.2300 level, key intraday technical support is currently found at the 1.2275 and 1.2252 levels.

  • If EURUSD price-action can hold above the 1.2300 level, buyers may push towards the 1.2334 and 1.2382 resistance levels.

Disclaimer

This article about 4 April EURUSD Intraday Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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