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14 Aug 2015
EUR/USD drops further on US data
FXStreet (Edinburgh) - The shared currency is now rapidly losing the grip vs. the US dollar, sending EUR/USD to challenge the area of 1.1130/20.
EUR/USD weaker post-US releases
The pair has intensified its correction lower after Industrial Production in the US economy came in above expectations for the month of July, expanding 0.6% inter-month, up from 0.6% expected and previous. Further data saw Capacity utilization coming in at 78.0%, matching previous estimates.
Ahead in the session US consumer confidence gauged by the Reuters/Michigan index is due. Consensus expects the index to improve a tad to 93/4 for the current month, from 93.1.
EUR/USD levels to watch
As of writing the pair is retreating 0.13% at 1.1135 and a breakdown of 1.1124 (low Aug.14) would aim for 1.1057 (low Aug.12) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).
EUR/USD weaker post-US releases
The pair has intensified its correction lower after Industrial Production in the US economy came in above expectations for the month of July, expanding 0.6% inter-month, up from 0.6% expected and previous. Further data saw Capacity utilization coming in at 78.0%, matching previous estimates.
Ahead in the session US consumer confidence gauged by the Reuters/Michigan index is due. Consensus expects the index to improve a tad to 93/4 for the current month, from 93.1.
EUR/USD levels to watch
As of writing the pair is retreating 0.13% at 1.1135 and a breakdown of 1.1124 (low Aug.14) would aim for 1.1057 (low Aug.12) ahead of 1.0961 (low Aug.11). On the upside, the initial hurdle aligns at 1.1190 (high Aug.13) ahead of 1.1215 (high Aug.12) and finally 1.1244 (high Jun.30).