EUR/USD retreats from peaks, back to 1.1290
FXStreet (Edinburgh) – The shared currency is receding some ground vs. the dollar pre-European open on Thursday, with EUR/USD meandering around the1.1290/85 band.
EUR/USD focus on FOMC meeting
The pair keeps the trade around the middle of the weekly range near 1.1300 the figure so far, bouncing off yesterday’s multi-day troughs in the boundaries of 1.1210 EUR/USD.
Data wise in the euro area, July’s Construction Output is only due, ahead of the most relevant event due later: the FOMC meeting. With expectations of a rate hike today dwindling to nearly 30%, market consensus keeps pointing to a hawkish tone by the Committee, leaving the rate hike for later in the year.
EUR/USD key levels
The pair is losing 0.03% at 1.1287 and a breakdown of 1.1214 EUR/USD (low Sep.16) would aim for 1.1171 (low Sep.10) and finally 1.1131 EUR/USD (low Sep.9). On the other hand, the next up barrier lines up at 1.1319 (high Sep.15) ahead of 1.1374 EUR/USD (high Sep.14) and then 1.1523 (high Aug.26).
The shared currency is receding some ground vs. the dollar pre-European open on Thursday, with EUR/USD meandering around the1.1290/85 EUR/USD band…
(Market News Provided by FXstreet)