Back
14 Aug 2015
EUR/USD consolidates near 1.1150, awaits EZ data
FXStreet (Mumbai) - The shared currency swings between gains and losses versus the US dollar in the late-Asian trades, with EUR/USD keeping range near 1.1150 levels. The major is consolidating previous sharp moves against a back drop of China fx intervention and Sept Fed rate hike bets back on the table.
EZ data in focus
The EUR/USD pair trades almost unchanged at 1.1153, making lower highs on daily charts. The main currency pair continues to oscillate in a 20-pips narrow range as markets remain cautious ahead of a series of crucial macro data from the Euro zone including, German prelim GDP, bloc’s final GDP and CPI figures.
On Thursday, the euro currency incurred a marginal loss against the greenback, losing part of the powerful momentum which sharply drove the EUR/USD pair to a monthly high of 1.1213 on Wednesday as the USD bulls dominated across the board on slightly better retail sales data which further boosted expectations of Sept Fed rate hike.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1079 (Aug 13 Low).
EZ data in focus
The EUR/USD pair trades almost unchanged at 1.1153, making lower highs on daily charts. The main currency pair continues to oscillate in a 20-pips narrow range as markets remain cautious ahead of a series of crucial macro data from the Euro zone including, German prelim GDP, bloc’s final GDP and CPI figures.
On Thursday, the euro currency incurred a marginal loss against the greenback, losing part of the powerful momentum which sharply drove the EUR/USD pair to a monthly high of 1.1213 on Wednesday as the USD bulls dominated across the board on slightly better retail sales data which further boosted expectations of Sept Fed rate hike.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1079 (Aug 13 Low).