17 Aug 2015
EUR/USD hovers below 1.1100 in quiet session
FXStreet (Córdoba) - EUR/USD consolidates below the 1.1100 mark after pulling back from highs, as the dollar shrugged off disappointing manufacturing data and investors turn their attention to key releases including US CPI report and FOMC minutes.
EUR/USD saw a short-lived spike toward 1.1124 at the beginning of the New York session as the dollar reacted negatively to data showing Fed Empire manufacturing index fell to -14.92 in August, its lowest in more than 6 years. However, EUR/USD failed to sustain gains and retreated toward a low of 1.1058 before finding support and entering a consolidation phase.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.1075, recording a 0.3% loss on the day, with immediate supports at 1.1058 (Aug 17 low), 1.1040 (100-day SMA) and 1.1024 (Aug 12 low). On the other hand, resistances are seen at 1.1124 (Aug 17 high), 1.1188 (Aug 14 & 13 highs) and 1.1213 (Aug 12 high).
EUR/USD saw a short-lived spike toward 1.1124 at the beginning of the New York session as the dollar reacted negatively to data showing Fed Empire manufacturing index fell to -14.92 in August, its lowest in more than 6 years. However, EUR/USD failed to sustain gains and retreated toward a low of 1.1058 before finding support and entering a consolidation phase.
EUR/USD technical levels
At time of writing, EUR/USD is trading at 1.1075, recording a 0.3% loss on the day, with immediate supports at 1.1058 (Aug 17 low), 1.1040 (100-day SMA) and 1.1024 (Aug 12 low). On the other hand, resistances are seen at 1.1124 (Aug 17 high), 1.1188 (Aug 14 & 13 highs) and 1.1213 (Aug 12 high).