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25 Sep 2015
EUR/USD looks to stab 1.12
FXStreet (Edinburgh) - The single currency is attempting some reaction during the European evening, now lifting EUR/USD to the vicinity of 1.1200 the figure.
EUR/USD supported around 1.1110
It’s been a choppy week for EUR so far, navigating between 1.1100 and 1.1300 amidst a vacuum of relevant releases or events in Euroland, and market speculations on the timing of the Fed’s lift-off.
Data wise in the US economy, GDP figures for the second quarter have surprised to the upside, expanding at an annual pace of 3.9%; in the same direction, the Reuters/Michigan index came in at 87.2 for the current month, surpassing both estimates and previous reading.
EUR/USD levels to watch
As of writing the pair is retreating 0.41% at 1.1182 with the next support at 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4) and then 1.1017 (low Aug.19). On the upside, a breakout of 1.1234 (high Sep.25) would target 1.1296 (high Sep.24) en route to 1.1330 (high Sep.21).
EUR/USD supported around 1.1110
It’s been a choppy week for EUR so far, navigating between 1.1100 and 1.1300 amidst a vacuum of relevant releases or events in Euroland, and market speculations on the timing of the Fed’s lift-off.
Data wise in the US economy, GDP figures for the second quarter have surprised to the upside, expanding at an annual pace of 3.9%; in the same direction, the Reuters/Michigan index came in at 87.2 for the current month, surpassing both estimates and previous reading.
EUR/USD levels to watch
As of writing the pair is retreating 0.41% at 1.1182 with the next support at 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4) and then 1.1017 (low Aug.19). On the upside, a breakout of 1.1234 (high Sep.25) would target 1.1296 (high Sep.24) en route to 1.1330 (high Sep.21).