10 Aug 2015
EUR/USD weaker, testing 1.0940
FXStreet (Edinburgh) - The single currency is now losing the grip vs. the dollar, dragging EUR/USD to daily lows in the 1.0940 area.
EUR/USD gains limited around 1.0980
The pair remains trading in a choppy mood at the beginning of the week, with gains appearing to be limited by recent tops in the 1.0980/85 band. Spot is losing upside momentum against a backdrop of scarce data releases in both Euroland and the US economy while market participants keep digesting the recent results from the US labour market.
Investor’s Confidence tracked by the Sentix Index and the US Labour Market Conditions Index are due later, ahead of the speeches by Fed’s Fischer and Lockhart.
EUR/USD relevant levels
As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11). On the other hand, the next resistance lines up at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29).
EUR/USD gains limited around 1.0980
The pair remains trading in a choppy mood at the beginning of the week, with gains appearing to be limited by recent tops in the 1.0980/85 band. Spot is losing upside momentum against a backdrop of scarce data releases in both Euroland and the US economy while market participants keep digesting the recent results from the US labour market.
Investor’s Confidence tracked by the Sentix Index and the US Labour Market Conditions Index are due later, ahead of the speeches by Fed’s Fischer and Lockhart.
EUR/USD relevant levels
As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11). On the other hand, the next resistance lines up at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29).