10 Aug 2015
EUR/USD revisits daily highs
FXStreet (Córdoba) - EUR/USD inched a tad higher during the New York session and revisited daily highs, but overall it remains little changed in a quiet session in the absence of first-tier data or economic news.
EUR/USD recovered from Friday’s post-NFP lows, but every upside attempt has remained capped by the 1.0980 zone over the last sessions. At time of writing, the pair is trading at 1.0970, little changed on the day.
The dollar reacted positively to solid nonfarm payrolls on Friday as a September rate hike by the Fed is still on the table, but failed to hold gains.
Low inflation threatens September rate hike
On Monday, Fed’s Vice Chairman Stanley Fischer said the US labor market is nearly back to full health, but that inflation remains weak while WSJ Fed’s watcher Jon Hilsenrath, stated that market inflation expectations are sagging once again and could complicate September lift-off.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next supports at 1.0925 (Aug 10 low), 1.0855 (Aug 7 low) and 1.0847 (Aug 5 low). On the other hand, resistances are seen at 1.0980 (Aug 10 high), 1.1000 (psychological level) and 1.1030 (100-day SMA).
EUR/USD recovered from Friday’s post-NFP lows, but every upside attempt has remained capped by the 1.0980 zone over the last sessions. At time of writing, the pair is trading at 1.0970, little changed on the day.
The dollar reacted positively to solid nonfarm payrolls on Friday as a September rate hike by the Fed is still on the table, but failed to hold gains.
Low inflation threatens September rate hike
On Monday, Fed’s Vice Chairman Stanley Fischer said the US labor market is nearly back to full health, but that inflation remains weak while WSJ Fed’s watcher Jon Hilsenrath, stated that market inflation expectations are sagging once again and could complicate September lift-off.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next supports at 1.0925 (Aug 10 low), 1.0855 (Aug 7 low) and 1.0847 (Aug 5 low). On the other hand, resistances are seen at 1.0980 (Aug 10 high), 1.1000 (psychological level) and 1.1030 (100-day SMA).