Quick look: EUR/USD selling stalls again at Key Fib level

Daily Chart

eurusd daily

As pointed out here (https://ogforexwire.wordpress.com/2016/03/02/eurusd-looks-ready-for-a-minor-bullish-move/) today before the ADP release, the selling ran out of oxygen at 1.0845 – 61.8% of Dec low-Feb high).

With US stocks wobbly amid signs of weakness in oil prices, the rebound from 1.0845 could be extended to 1.09-1.0938 (100-day MA).

Services PMI figures are due for release across Eurozone and in the US.From the pair’s viewpoint, the US ISM non-manufacturing/services PMI release is more important.

 

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