13 Aug 2015
EUR/USD breaches 1.1100 on US data
FXStreet (Edinburgh) - The European currency is declining further, with EUR/USD testing sub-1.1100 levels in the wake of US data releases.
EUR/USD still weak around 1.1100
The pair briefly visited the 1.1090 area after headline retail sales in the US economy surprised investors to the upside, rising at a monthly pace of 0.6% during July vs. 0.5% forecasted and up from the previous 0.3% contraction.
Further data showed core retail sales – excluding the Auto sector – expanding 0.4% MoM vs. 0.5% estimated and Initial Claims ticking higher to 274K in the week ended on August 7th.
EUR/USD levels to watch
As of writing the pair is losing 0.59% at 1.1092 and a break below 1.1000 (psychological level) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7). On the upside, the initial up-barrier aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).
EUR/USD still weak around 1.1100
The pair briefly visited the 1.1090 area after headline retail sales in the US economy surprised investors to the upside, rising at a monthly pace of 0.6% during July vs. 0.5% forecasted and up from the previous 0.3% contraction.
Further data showed core retail sales – excluding the Auto sector – expanding 0.4% MoM vs. 0.5% estimated and Initial Claims ticking higher to 274K in the week ended on August 7th.
EUR/USD levels to watch
As of writing the pair is losing 0.59% at 1.1092 and a break below 1.1000 (psychological level) would target 1.0961 (low Aug.11) en route to 1.0855 (low Aug.7). On the upside, the initial up-barrier aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).