FXStreet (Edinburgh) – The shared currency is now looking to consolidate the daily drop from session tops near 1.1280 vs. the dollar, with EUR/USD hovering over the 1.1240 area.
EUR/USD supported near 1.1220
The pair’s daily decline seems to have found decent support in the vicinity of 1.1220 during the European morning, all against a renewed wave of buying interest in the greenback.
Nothing worth mentioning from the data space in the euro region, where German Industrial Production figures have disappointed investors, contracting 1.2% from July to August.
EUR/USD levels to watch
As of writing the pair is retreating 0.30% at 1.1238 with the next support at 1.1209 (55-d sma) followed by 1.1151 (2-month up trend) and then 1.1107 (monthly low Sep.23). On the upside, a breakout of 1.1300 (psychological level) would target 1.1460 (monthly high Sep.18) and then 1.1714 (high post-PBoC move Aug.24).
(Market News Provided by FXstreet)