18 Aug 2015
EUR/USD trims losses, near 1.1070
FXStreet (Edinburgh) - After visiting session lows in the mid-1.10s, EUR/USD has now regained the vicinity of 1.1070 following the opening bell in Euroland.
EUR/USD attention to risk, US data
Absent data releases in the euro area today, the pair’s price action will hinge on the risk appetite trends and the publications across the pond, where Housing Starts and Building Permits will grab all the attention.
A cautious tone and some consolidation might lie ahead for spot, as inflation figures in the US economy are due tomorrow and the FOMC will release its minutes. In light of recent positive results in the US calendar, market expectations for a rate hike in September have revived, giving extra legs to the greenback and prompting sellers to drag the pair from tops in the 1.1200 neighbourhood.
EUR/USD levels to watch
As of writing the pair is retreating 0.02% at 1.1075 and a breakdown of 1.1051 (low Aug.18) would aim for 1.1000 (psychological level) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1083 (high Aug.18) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12).
EUR/USD attention to risk, US data
Absent data releases in the euro area today, the pair’s price action will hinge on the risk appetite trends and the publications across the pond, where Housing Starts and Building Permits will grab all the attention.
A cautious tone and some consolidation might lie ahead for spot, as inflation figures in the US economy are due tomorrow and the FOMC will release its minutes. In light of recent positive results in the US calendar, market expectations for a rate hike in September have revived, giving extra legs to the greenback and prompting sellers to drag the pair from tops in the 1.1200 neighbourhood.
EUR/USD levels to watch
As of writing the pair is retreating 0.02% at 1.1075 and a breakdown of 1.1051 (low Aug.18) would aim for 1.1000 (psychological level) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1083 (high Aug.18) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12).