The EUR/USD has declined a little bit since the start of the day due in part to the content of ECB President Mario Draghi’s statements yesterday. Suffice it to say, he was extremely dovish, and thus the Euro has been under downward pressure since. Furthermore, today traders are expecting good Nonfarm payrolls data to be published at 12:30 GMT. Thus the dollar is a t the same time experiencing some upward momentum. Consequently, the pair may continue dropping until the release of the NFP report. Look for support at 1.3640 and resistance at 1.3800.
USD/JPY
The USD/JPY is ranging today after having risen substantially over the past few days. The sources of this appreciation are a s follows: the yen has been losing value since the Japanese government increased the sales tax and the US dollar has been gaining ahead of the release of the Nonfarm payrolls report. At the moment, it does not seem like there will be significant movement until the data comes out, as there is no further pieces of information coming out today that are as important. Look for support at 103.50 and resistance at 104.10.
April 4, 2014 – Forex News
Hot Asset For Today: EUR/USD
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