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11 Sep 2015
EUR/USD attempting another run towards 1.1300
FXStreet (Mumbai) - The EUR/USD pair is seen picking-up pace heading into the early European trades, as the greenback remains broadly weak amid speculations over the delay in the Fed rate hike and on lack-lustre US jobless and import prices data.
EUR/USD recovers from 1.1274
The EUR/USD pair trades 0.09% higher at 1.1291, with 1.13 back on sight. The main currency traded choppy in the Asian session and now edges higher in early European dealings as fresh selling interest was seen in the US dollar while the European traders hit their desks, digesting the latest US economic releases.
On Thursday, the number of persons applying for unemployment benefits for the first time edged down to 275,000 in the week of September 5, meeting the markets' predictions. While the import prices fell 1.8% in August, as opposed to expectations of a 1.7% decline.
Meanwhile, the European indices futures are trading higher, limiting the upside in the EUR/USD pair. Recently, markets have been closely tracking the sentiment around the European stock markets for cues on the funding currency – the euro.
Looking ahead, markets now await the German final CPI ahead of US PPI and consumer sentiment data to be released later in the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1320 (Sept 2 High), above which gains could be extended to 1.1366 (Aug 27 High) levels. On the flip side, support is seen at 1.1274 (Today’s Low) below which it could extend losses to 1.1214 (Sept 2 Low) levels.
EUR/USD recovers from 1.1274
The EUR/USD pair trades 0.09% higher at 1.1291, with 1.13 back on sight. The main currency traded choppy in the Asian session and now edges higher in early European dealings as fresh selling interest was seen in the US dollar while the European traders hit their desks, digesting the latest US economic releases.
On Thursday, the number of persons applying for unemployment benefits for the first time edged down to 275,000 in the week of September 5, meeting the markets' predictions. While the import prices fell 1.8% in August, as opposed to expectations of a 1.7% decline.
Meanwhile, the European indices futures are trading higher, limiting the upside in the EUR/USD pair. Recently, markets have been closely tracking the sentiment around the European stock markets for cues on the funding currency – the euro.
Looking ahead, markets now await the German final CPI ahead of US PPI and consumer sentiment data to be released later in the day.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1320 (Sept 2 High), above which gains could be extended to 1.1366 (Aug 27 High) levels. On the flip side, support is seen at 1.1274 (Today’s Low) below which it could extend losses to 1.1214 (Sept 2 Low) levels.