30 Jul 2015
EUR/USD breaks below 1.0900
FXStreet (Edinburgh) - The offered tone is not giving up around the euro today, now sending EUR/USD to test fresh lows in sub-1.0900 levels.
EUR/USD weaker, in multi-day lows
Spot has accelerated its downside following today’s US releases, where GDP figures showed the economy has expanded at an annual pace of 2.3% during the second quarter, below consensus at 2.6%, albeit strongly rebounding from Q1 figures.
Market expectations for a rate hike in September remain alive and continue to support the US dollar, intensifying the weekly decline of the pair and weighing on the USD-denominated assets.
EUR/USD levels to watch
As of writing pair is losing 0.77% at 1.0899 and a breakdown of 1.0869 (low Jul.22) would target 1.0811 (low Jul.21) en route to 1.0800 (psychological level). On the flip side, the next up barrier aligns at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27).
EUR/USD weaker, in multi-day lows
Spot has accelerated its downside following today’s US releases, where GDP figures showed the economy has expanded at an annual pace of 2.3% during the second quarter, below consensus at 2.6%, albeit strongly rebounding from Q1 figures.
Market expectations for a rate hike in September remain alive and continue to support the US dollar, intensifying the weekly decline of the pair and weighing on the USD-denominated assets.
EUR/USD levels to watch
As of writing pair is losing 0.77% at 1.0899 and a breakdown of 1.0869 (low Jul.22) would target 1.0811 (low Jul.21) en route to 1.0800 (psychological level). On the flip side, the next up barrier aligns at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27).