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1 Sep 2015
EUR/USD stabilized near 1.1250
FXStreet (Edinburgh) - The single currency has faded the initial spike to daily highs near 1.1330 vs. the US dollar, with EUR/USD now looking to stabilize in the mid-1.1200s.
EUR/USD eyes on US releases
Despite the leg lower from session highs above 1.1300 the figure, spot remains on the positive ground and advancing for the second session in a row following the softer tone in the greenback and the risk-off environment.
EUR has found additional support in the auspicious results from the German labour market and manufacturing PMI as well as lower unemployment rate in the euro bloc. Ahead in the week, the most relevant events will be the ECB gathering on Thursday and US Payrolls on Friday.
EUR/USD key levels
At the moment the pair is advancing 0.38% at 1.1253 and a breakout of 1.1333 (high Sep.1) would target 1.1364 (high Aug.27) en route to 1.1388 (high Aug.21). On the flip side, the immediate support lines up at 1.1207 (low Sep.1) followed by 1.1170 (low Aug.31) and finally 1.1156 (low Aug.28).
EUR/USD eyes on US releases
Despite the leg lower from session highs above 1.1300 the figure, spot remains on the positive ground and advancing for the second session in a row following the softer tone in the greenback and the risk-off environment.
EUR has found additional support in the auspicious results from the German labour market and manufacturing PMI as well as lower unemployment rate in the euro bloc. Ahead in the week, the most relevant events will be the ECB gathering on Thursday and US Payrolls on Friday.
EUR/USD key levels
At the moment the pair is advancing 0.38% at 1.1253 and a breakout of 1.1333 (high Sep.1) would target 1.1364 (high Aug.27) en route to 1.1388 (high Aug.21). On the flip side, the immediate support lines up at 1.1207 (low Sep.1) followed by 1.1170 (low Aug.31) and finally 1.1156 (low Aug.28).