4 Aug 2015
EUR/USD breaks below 1.0900 after Fed's Lockhart comments
FXStreet (Córdoba) - EUR/USD broke below the 1.0900 level and dipped to fresh lows as the dollar strengthened on the back of Fed’s Lockhart comments, who stated September could be the right time for rate liftoff.
The dollar strengthened across the board and dragged EUR/USD to fresh 2-week lows following hawkish comments, which put September back on the table despite disappointing data published recently, including low wage growth. The pair bottomed out at 1.0888 and it was last trading at the 1.0890 zone, recording a 0.53% loss on the day.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find next supports at 1.0869 (Jul 22 low), 1.0811/08 (Jul 20 & 21 lows) and 1.0784 (Apr 24 low). On the flip side, resistances are seen at 1.0995/1.1000 (Aug 3 high/psychological level), 1.1027 (100-day SMA) and the 1.1100/27 zone (psychological level/Jul 31 high).
The dollar strengthened across the board and dragged EUR/USD to fresh 2-week lows following hawkish comments, which put September back on the table despite disappointing data published recently, including low wage growth. The pair bottomed out at 1.0888 and it was last trading at the 1.0890 zone, recording a 0.53% loss on the day.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find next supports at 1.0869 (Jul 22 low), 1.0811/08 (Jul 20 & 21 lows) and 1.0784 (Apr 24 low). On the flip side, resistances are seen at 1.0995/1.1000 (Aug 3 high/psychological level), 1.1027 (100-day SMA) and the 1.1100/27 zone (psychological level/Jul 31 high).