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21 Aug 2015
EUR/USD keeps highs near 1.1370
FXStreet (Edinburgh) - The shared currency is closing its third consecutive week with gains vs. the dollar, lifting EUR/USD to the area of 1.1370/75.
EUR/USD firmer as dollar retreats
Market expectations of a rate hike in September has been alarmingly shrinking since the FOMC minutes on Wednesday, taking a toll on the US dollar and thus propelling spot to the upper bound of the broader 1.08-1.14 range that has been prevailing in recent months.
In the data space, EMU’s flash PMIs for the current month have surprised to the upside, while Germany posted mixed prints. In addition, Consumer Confidence in the euro bloc has surpassed expectations for the same period.
EUR/USD key levels
At the moment the pair is gaining 1.12% en 1.1368 with the next resistance at 1.1378 (high Aug.21) ahead of 1.1410 (high Jun.22) and finally 1.1436 (high Jun.14). On the flip side, a breach of 1.1107 (low Aug.20) would open the door to 1.1017 (low Aug.19) and then 1.0960 (low Aug.11).
EUR/USD firmer as dollar retreats
Market expectations of a rate hike in September has been alarmingly shrinking since the FOMC minutes on Wednesday, taking a toll on the US dollar and thus propelling spot to the upper bound of the broader 1.08-1.14 range that has been prevailing in recent months.
In the data space, EMU’s flash PMIs for the current month have surprised to the upside, while Germany posted mixed prints. In addition, Consumer Confidence in the euro bloc has surpassed expectations for the same period.
EUR/USD key levels
At the moment the pair is gaining 1.12% en 1.1368 with the next resistance at 1.1378 (high Aug.21) ahead of 1.1410 (high Jun.22) and finally 1.1436 (high Jun.14). On the flip side, a breach of 1.1107 (low Aug.20) would open the door to 1.1017 (low Aug.19) and then 1.0960 (low Aug.11).