20 Aug 2015
EUR/USD losing altitude, near 1.1120
FXStreet (Edinburgh) - The shared currency is now losing the grip vs. the dollar, pushing EUR/USD to test the 1.1125/20 band.
EUR/USD focus on US docket
The pair is looking to consolidate yesterday’s break above the 1.1100 barrier in response to the dovish tone from the FOMC minutes, although today’s upside seems to have run out of legs in the boundaries of 1.1150 so far.
Absent relevant releases in Euroland, market participants will continue to focus on the US calendar for a better gauge of today’s price action, as Initial Claims, Existing Home Sales and the Philly Fed Manufacturing Survey.
EUR/USD levels to watch
As of writing the pair is up 0.01% at 1.1123 with the next resistance at 1.1149 (high Aug.20) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1114 (low Aug.20) would aim for 1.1017 (low Aug.18) and then 1.0961 (low Aug.11).
EUR/USD focus on US docket
The pair is looking to consolidate yesterday’s break above the 1.1100 barrier in response to the dovish tone from the FOMC minutes, although today’s upside seems to have run out of legs in the boundaries of 1.1150 so far.
Absent relevant releases in Euroland, market participants will continue to focus on the US calendar for a better gauge of today’s price action, as Initial Claims, Existing Home Sales and the Philly Fed Manufacturing Survey.
EUR/USD levels to watch
As of writing the pair is up 0.01% at 1.1123 with the next resistance at 1.1149 (high Aug.20) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1114 (low Aug.20) would aim for 1.1017 (low Aug.18) and then 1.0961 (low Aug.11).