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3 Aug 2015
EUR/USD deflates towards 1.0950
FXStreet (Edinburgh) - The offered tone is growing bigger around the shared currency on Monday, with EUR/USD now testing lows near 1.0950.
EUR/USD focus on US data
The weakness sparked last Friday post-highs above 1.1100 the figure continues to run its course at the beginning of the week, dragging spot lower to test daily troughs around the mid-1.0900s. The downbeat sentiment around the EUR remains intact despite auspicious results from July manufacturing PMIs in Euroland, with a cautious tone swelling amongst traders in light of the US data releases.
That said, ISM Manufacturing will take centre stage across the pond, seconded by Personal Income/Spending, inflation tracked by the PCE and Markit’s manufacturing PMI.
EUR/USD levels to watch
As of writing the pair is retreating 0.23% at 1.0960 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).
EUR/USD focus on US data
The weakness sparked last Friday post-highs above 1.1100 the figure continues to run its course at the beginning of the week, dragging spot lower to test daily troughs around the mid-1.0900s. The downbeat sentiment around the EUR remains intact despite auspicious results from July manufacturing PMIs in Euroland, with a cautious tone swelling amongst traders in light of the US data releases.
That said, ISM Manufacturing will take centre stage across the pond, seconded by Personal Income/Spending, inflation tracked by the PCE and Markit’s manufacturing PMI.
EUR/USD levels to watch
As of writing the pair is retreating 0.23% at 1.0960 with the next support at 1.0921 (low Jul.31) followed by 1.0893 (low Jul.30) and finally 1.0811 (low Jul.11). On the flip side, a breakout of 1.0997 (high Aug.3) would target 1.1080 (high Jul.29) en route to 1.1113 (high Jul.31).