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21 Aug 2015
EUR/USD stronger, through 1.13
FXStreet (Edinburgh) - The single currency remains unstoppable today, now lifting EUR/USD beyond the 1.1300 mark as markets keep hammering the greenback.
EUR/USD up on weaker USD
The wave of buying interest around EUR is doing nothing but growing at the end of the week, with spot now advancing to fresh multi-week highs around 1.1300 the figure. No merits from the single currency in the ongoing bull run though, as USD selling has been picking up further pace after Wednesday’s FOMC minutes have pushed back expectations for a Fed’s lift-off in September.
Data releases in Euroland were a mere anecdote today, with preliminary manufacturing and services PMIs showing mixed results in early trade. Across the pond, Markit’s manufacturing PMI is due with consensus expecting a slight improvement to 54.0 for the current month, although the chances of this result to support the dollar are close to zero.
EUR/USD key levels
At the moment the pair is gaining 0.44% en 1.1291 with the next resistance at 1.1308 (high Aug.21) ahead of 1.1335 (high Jun.8) and finally 1.1371 (high Jun.17). 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 up on weaker USD
The wave of buying interest around EUR is doing nothing but growing at the end of the week, with spot now advancing to fresh multi-week highs around 1.1300 the figure. No merits from the single currency in the ongoing bull run though, as USD selling has been picking up further pace after Wednesday’s FOMC minutes have pushed back expectations for a Fed’s lift-off in September.
Data releases in Euroland were a mere anecdote today, with preliminary manufacturing and services PMIs showing mixed results in early trade. Across the pond, Markit’s manufacturing PMI is due with consensus expecting a slight improvement to 54.0 for the current month, although the chances of this result to support the dollar are close to zero.
EUR/USD key levels
At the moment the pair is gaining 0.44% en 1.1291 with the next resistance at 1.1308 (high Aug.21) ahead of 1.1335 (high Jun.8) and finally 1.1371 (high Jun.17). 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).