3 Aug 2015
EUR/USD retreats from 1.0990, back to 1.0950
FXStreet (Edinburgh) - The previous bullish attempt in EUR/USD has run out of steam in the 1.0990 area, triggering a leg lower to the current 1.0960/50 band.
EUR/USD forgets about PMIs
Auspicious prints from final manufacturing PMIs in Euroland plus a weaker than expected US ISM Manufacturing failed to ignite a more lasting upside in the euro, with gains capped by the upper 1.09s so far.
Looking to Tuesday’s calendar in the euro area, Producer Prices are far from spark any interest amongst traders, whereas US Factory Orders during June could bring some volatility from the USD-side of the equation.
EUR/USD levels to watch
As of writing the pair is retreating 0.27% at 1.0952 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).
EUR/USD forgets about PMIs
Auspicious prints from final manufacturing PMIs in Euroland plus a weaker than expected US ISM Manufacturing failed to ignite a more lasting upside in the euro, with gains capped by the upper 1.09s so far.
Looking to Tuesday’s calendar in the euro area, Producer Prices are far from spark any interest amongst traders, whereas US Factory Orders during June could bring some volatility from the USD-side of the equation.
EUR/USD levels to watch
As of writing the pair is retreating 0.27% at 1.0952 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).