FXStreet (Edinburgh) – The single currency remained apathetic after EMU releases on Monday, with EUR/USD keeping the trade around the 1.1330 area.
EUR/USD indifferent on data
The pair paid no attention to the better-than-expected Industrial Production figures in the euro bloc during July, expanding at a monthly pace of 0.6% and taking the annual expansion to 1.9% vs. initial estimates at 0.2% and 0.6%, respectively.
Spot has surrendered initial gains to the boundaries of 1.1380 and is now visiting session lows around 1.1330 as risk-off trends seem to be losing momentum. Further releases in the region saw Italian consumer prices rising 0.2% MoM and 0.2% YoY during the last month.
EUR/USD key levels
The pair is retreating 0.04% at 1.1331 and a breach of 1.1327 (low Sep.14) would target 1.1253 (low Sep.11) en route to 1.1147 (low Sep.9). On the other hand, the next hurdle lines up at 1.1374 (high Sep.14) followed by 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27).
The single currency remained apathetic after EMU releases on Monday, with EUR/USD keeping the trade around the 1.1330 area…
(Market News Provided by FXstreet)