17 Aug 2015
EUR/USD retreats from 1.1120
FXStreet (Edinburgh) - The shared currency is now hovering over the 1.1090/1.1100 band vs. the dollar, with EUR/USD coming back after hitting tops near 1.1120.
EUR/USD looks to US releases
The pair remains wobbling around the 1.1100 area at the beginning of the week amidst a generalized tone favouring the greenback.
With the PBoC aiming for a stable Yuan and concerns over the Greek third bailout slowly vanishing, the lack of direction is prevailing in the global markets at the same time that investors remain vigilant on the US docket against a backdrop of rising expectations on a Fed’s lift off next month.
In the data space, EMU’s trade surplus came in higher in June (€21.9 billion) while US NAHB index and the Empire State index will see the light afterwards across the pond.
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 looks to US releases
The pair remains wobbling around the 1.1100 area at the beginning of the week amidst a generalized tone favouring the greenback.
With the PBoC aiming for a stable Yuan and concerns over the Greek third bailout slowly vanishing, the lack of direction is prevailing in the global markets at the same time that investors remain vigilant on the US docket against a backdrop of rising expectations on a Fed’s lift off next month.
In the data space, EMU’s trade surplus came in higher in June (€21.9 billion) while US NAHB index and the Empire State index will see the light afterwards across the pond.
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).