12 Aug 2015
EUR/USD firmer, clinches 1.1200
FXStreet (Edinburgh) - The European currency keeps alive its march north on Wednesday, now pushing EUR/USD to test the 1.1200 handle.
EUR/USD in 5-week tops
The buying sentiment around the euro has been gathering pace since early trade today. Same as yesterday, this morning’s ‘fixing’ of the Yuan by the PBoC has prompted market participants to intensify the USD-selling, taking the greenback to 4-week lows when measured by the US Dollar Index.
Adding to the USD weakness, the recent moves in the Yuan have also pushed back market expectations of a Fed’s lift-off in September, which are now gyrating around 30% after rising to almost 60% pre-Payrolls on Friday.
EUR/USD levels to watch
As of writing the pair is advancing 1.39% at 1.1196 with the next hurdle at 1.1215 (high Aug.12) ahead of 1.1244 (high Jun.30) and then 1.1278 (high Jun.29). On the downside, a break below 1.1057 (low Aug.12) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7).
EUR/USD in 5-week tops
The buying sentiment around the euro has been gathering pace since early trade today. Same as yesterday, this morning’s ‘fixing’ of the Yuan by the PBoC has prompted market participants to intensify the USD-selling, taking the greenback to 4-week lows when measured by the US Dollar Index.
Adding to the USD weakness, the recent moves in the Yuan have also pushed back market expectations of a Fed’s lift-off in September, which are now gyrating around 30% after rising to almost 60% pre-Payrolls on Friday.
EUR/USD levels to watch
As of writing the pair is advancing 1.39% at 1.1196 with the next hurdle at 1.1215 (high Aug.12) ahead of 1.1244 (high Jun.30) and then 1.1278 (high Jun.29). On the downside, a break below 1.1057 (low Aug.12) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7).