25 Aug 2015
EUR/USD hovering over 1.1500
FXStreet (Edinburgh) - After dropping to daily lows near 1.1450, EUR/USD is now looking to stabilize around the 1.1500 barrier.
EUR/USD focus on US data
Renewed sentiment towards the greenback and a strong recovery in the European and US equity markets are collaborating in the pair’s daily downside, extending the correction from yesterday’s peaks just above 1.1700 the figure, or 5-month tops.
In the data space, German GDP figures matched consensus, expanding 0.4% inter-quarter in Q2 and 1.6% on a yearly basis. Later on, German IFO indicator surprised markets to the upside for the current month, while the PBoC cut its benchmark rates and the RRR amidst uncertainties around the health of the domestic economy.
EUR/USD key levels
At the moment the pair is retreating 0.97% at 1.1505 with the next support at 1.1456 (low Aug.25) followed by 1.1420 (low Aug.24) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).
EUR/USD focus on US data
Renewed sentiment towards the greenback and a strong recovery in the European and US equity markets are collaborating in the pair’s daily downside, extending the correction from yesterday’s peaks just above 1.1700 the figure, or 5-month tops.
In the data space, German GDP figures matched consensus, expanding 0.4% inter-quarter in Q2 and 1.6% on a yearly basis. Later on, German IFO indicator surprised markets to the upside for the current month, while the PBoC cut its benchmark rates and the RRR amidst uncertainties around the health of the domestic economy.
EUR/USD key levels
At the moment the pair is retreating 0.97% at 1.1505 with the next support at 1.1456 (low Aug.25) followed by 1.1420 (low Aug.24) and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1714 (high Aug.24) would open the door to 1.1786 (high Jan.15) and then 1.1846 (high Jan.14).