- The demand for the single currency now stays subdued around 1.1390/80.
- The greenback remains sidelined in the 94.30/40 band so far.
- US Export/Import Prices came in mixed for the month of July.
After testing fresh tops beyond 1.1400 the figure in early trade, EUR/USD has now returned to the sub-1.1400 zone.
EUR/USD looks to data, trade, Turkey
The pair is losing ground for the fourth consecutive session so far today, reverting the initial optimism that lifted the European currency to the 1.1430/35 band, or daily highs, vs. the buck.
Spot keeps trading in levels close to yesterday’s fresh 13-month lows in the 1.1360 region, coincident with the critical 200-week SMA, all amidst a persistent bias towards the greenback and the risk-off mood despite Turkish markets now appear somewhat calmer.
In the data space, auspicious results from the German/EMU ZEW survey failed to lift the sentiment around EUR, while US Exports/Imports Prices came in below expectations during last month.
EUR/USD levels to watch
At the moment, the pair is down 0.19% at 1.1388 facing the next support at 1.1365 (2018 low Aug.13) seconded by 1.1312 (low Jul.5 2017) and then 1.1300 (psychological level). On the upside, a breakout of 1.1433 (high Aug.14) would target 1.1532 (10-day SMA) en route to 1.1609 (21-day SMA).
Share
