19 Aug 2015
EUR/USD slumps to 1.1030
FXStreet (Edinburgh) - A bout of selling interest has hit the euro on Wednesday, now dragging EUR/USD to test the lower bound of the range around 1.1035/30.
EUR/USD softer ahead of FOMC minutes, US data
The pair has fully faded the initial spike to fresh peaks near 1.1080, giving away more than 50 pips albeit still keeping daily gains in the 1.1030/35 band. While market participants keeping an eye on the Bundestag vote on the Greek bailout, data in the euro bloc showed the Current Account surplus rose to a seasonally adjusted €25.4 billion during June, up from €18.0 billion.
Next on tap, inflation figures in the US economy are due ahead of the FOMC minutes. Prior surveys expect core consumer prices to have risen 1.8% on a yearly basis while headline prices would have advanced 0.2% YoY.
EUR/USD levels to watch
As of writing the pair is up 0.17% at 1.1040 with the next resistance at 1.1095 (high Aug.18) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1017 (low Aug.18) would target 1.0961 (low Aug.11) en route to 1.0925 (low Aug.10).
EUR/USD softer ahead of FOMC minutes, US data
The pair has fully faded the initial spike to fresh peaks near 1.1080, giving away more than 50 pips albeit still keeping daily gains in the 1.1030/35 band. While market participants keeping an eye on the Bundestag vote on the Greek bailout, data in the euro bloc showed the Current Account surplus rose to a seasonally adjusted €25.4 billion during June, up from €18.0 billion.
Next on tap, inflation figures in the US economy are due ahead of the FOMC minutes. Prior surveys expect core consumer prices to have risen 1.8% on a yearly basis while headline prices would have advanced 0.2% YoY.
EUR/USD levels to watch
As of writing the pair is up 0.17% at 1.1040 with the next resistance at 1.1095 (high Aug.18) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12). On the flip side, a breach of 1.1017 (low Aug.18) would target 1.0961 (low Aug.11) en route to 1.0925 (low Aug.10).