19 Aug 2015
EUR/USD ignores CPI as attention turns to FOMC minutes
FXStreet (Córdoba) - EUR/USD has managed to hold onto small intraday gains after oscillating sharply between daily highs and lows following the release of US CPI figures.
EUR/USD spiked to a high of 1.1074 but it turned sharply lower and posted a low of 1.1017 before steading at pre-data levels as the dollar shrugged off the soft inflation reading. At time of writing, EUR/USD is trading at 1.1035, still 0.12% above its opening price.
While Greece is well on the way to a third bailout after the German parliament approved the €86bn plan, investors attention now turns to the FOMC minutes to shed light on the probability of a rate hike next month.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.1017 (Aug 18 & 19 lows), 1.1000 (psychological level) and 1.0960 (Aug 11 low). On the upside, resistances could be found at 1.1047 (100-day SMA), 1.1074 (Aug 9 high) and 1.1093 (Aug 18 high).
EUR/USD spiked to a high of 1.1074 but it turned sharply lower and posted a low of 1.1017 before steading at pre-data levels as the dollar shrugged off the soft inflation reading. At time of writing, EUR/USD is trading at 1.1035, still 0.12% above its opening price.
While Greece is well on the way to a third bailout after the German parliament approved the €86bn plan, investors attention now turns to the FOMC minutes to shed light on the probability of a rate hike next month.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.1017 (Aug 18 & 19 lows), 1.1000 (psychological level) and 1.0960 (Aug 11 low). On the upside, resistances could be found at 1.1047 (100-day SMA), 1.1074 (Aug 9 high) and 1.1093 (Aug 18 high).