FXStreet (Edinburgh) – A renewed buying interest is has been building up around the dollar, now sending EUR/USD to test fresh lows in the 1.1380/70 band.
EUR/USD still up for the week
Despite the current leg lower, the pair remains on track to close another week with gains, bolstered by the increasing uncertainty and the lack of confidence that now seems to be surrounding the Federal Reserve over the timing of a rate hike.
Spot has given away almost a big-figure since the early top around 1.1460 to current session lows, trimming further the important post-FOMC advance.
The next risk event in Euroland will be the release of the flash manufacturing and services PMIs for the current month, due on Wednesday, ahead of the speech by ECB’s M.Draghi.
EUR/USD key levels
The pair is retreating 0.44% at 1.1383 with the initial support at 1.1370 (low Sep.18) ahead of 1.1284 (low Sep.17) and finally 1.1258 (low Sep.15). On the flip side, a breakout of 1.1461 (high Sep.18) would target 1.1493 (high Aug.25) en route to 1.1523 (high Aug.26).
(Market News Provided by FXstreet)