FXStreet (Edinburgh) – The shared currency is now losing some of its shine, pushing EUR/USD back to the 1.1090/80 band.
EUR/USD trims gains on European open
Spot is giving away initial gains following the opening bell in London, with sellers stepping in and dragging it to the 1.1180 area. Traders quickly shrugged off poor Chinese trade balance results and remained apathetic after German trade surplus came in on the stronger side, all ahead EMU’s GDP figures for the second quarter due later.
As risk appetite is gaining traction in the European morning, EUR is putting further distance from daily tops near 1.1230, albeit it manages to keep the positive territory so far.
EUR/USD key levels
The pair is advancing 0.12% at 1.1184 and a breakout of 1.1224 (high Sep.8) would target 1.1243 (high Sep.3) en route to 1.1294 (high Sep.2). On the other hand, the next support lines up at 1.1154 (low Sep.8) followed by 1.1089 (low Sep.4) and finally 1.1057 (low Aug.12).
(Market News Provided by FXstreet)