17 Aug 2015
EUR/USD bounces off 1.1060
FXStreet (Edinburgh) - After bottoming out in session lows near 1.1060, EUR/USD has recovered part of its shine and is now back around the 1.1090 area.
EUR/USD focus on US data
Last week’s auspicious results from the US docket have reignited the likeliness that the Federal Reserve could hike rates as soon as next month, giving extra legs to the recent USD-buying sentiment and helping spot to come down from multi-week tops in the 1.1200 neighbourhood.
Data wise in Euroland, June’s trade surplus came in at a non-seasonally adjusted €26.4 billion vs. €18.8 billion from the previous month. Across the pond, the regional manufacturing gauge tracked by the Empire State index is due, followed by the NAHB Housing Market index and the TIC Flows.
EUR/USD levels to watch
As of writing the pair is retreating 0.06% at 1.1102 and a breakdown of 1.1063 (low Aug.17) would aim for 1.1057 (low Aug.12) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).
EUR/USD focus on US data
Last week’s auspicious results from the US docket have reignited the likeliness that the Federal Reserve could hike rates as soon as next month, giving extra legs to the recent USD-buying sentiment and helping spot to come down from multi-week tops in the 1.1200 neighbourhood.
Data wise in Euroland, June’s trade surplus came in at a non-seasonally adjusted €26.4 billion vs. €18.8 billion from the previous month. Across the pond, the regional manufacturing gauge tracked by the Empire State index is due, followed by the NAHB Housing Market index and the TIC Flows.
EUR/USD levels to watch
As of writing the pair is retreating 0.06% at 1.1102 and a breakdown of 1.1063 (low Aug.17) would aim for 1.1057 (low Aug.12) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).