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31 Aug 2015
EUR/USD testing 1.1200 post-EMU CPI
FXStreet (Edinburgh) - The single currency keeps losing ground vs. the dollar on Monday, now pushing EUR/USD back to the boundaries of the 1.1200 key support.
EUR/USD clings to gains
Despite the ongoing correction lower from overnight tops near 1.1260, the pair is managing well to hold its daily gains after flash core consumer prices in the euro area rose at an annual pace of 1.0%, matching consensus. Preliminary headline CPI rose 0.2% on a year to August, surpassing estimates and matching Julys’ reading.
That was all data wise in Euroland, with only the Chicago PMI in the pipeline across the pond.
EUR/USD key levels
At the moment the pair is advancing 0.15% at 1.1204 and a breakout of 1.1263 (high Aug.31) would target 1.1309 (high Aug.28) en route to 1.1364 (high Aug.27). On the flip side, the immediate support lines up at 1.1170 (low Aug.31) followed by 1.1156 (low Aug.28) and finally 1.1107 (low Aug.20).
EUR/USD clings to gains
Despite the ongoing correction lower from overnight tops near 1.1260, the pair is managing well to hold its daily gains after flash core consumer prices in the euro area rose at an annual pace of 1.0%, matching consensus. Preliminary headline CPI rose 0.2% on a year to August, surpassing estimates and matching Julys’ reading.
That was all data wise in Euroland, with only the Chicago PMI in the pipeline across the pond.
EUR/USD key levels
At the moment the pair is advancing 0.15% at 1.1204 and a breakout of 1.1263 (high Aug.31) would target 1.1309 (high Aug.28) en route to 1.1364 (high Aug.27). On the flip side, the immediate support lines up at 1.1170 (low Aug.31) followed by 1.1156 (low Aug.28) and finally 1.1107 (low Aug.20).