FXStreet (Edinburgh) – The shared currency remains entrenched in the negative territory on Friday, with EUR/USD retaking the mid-1.1100s after testing the key support at 1.1100.
EUR/USD weaker ahead of US docket
The pair keeps the leg lower after being rejected from weekly tops at levels just shy of 1.1300 the figure on Thursday, suffering the unexpected hawkish stance by Chairwoman J.Yellen.
Poor results in Euroland today have shown Private Loans and M3 Money Supply coming in below expectations at 1.0% YoY and 4.8% on a year to August, although the more relevant data await across the pond with US Q2 GDP Annualized and speeches by Fed’s Bullard and George.
EUR/USD levels to watch
As of writing the pair is retreating 0.63% at 1.1157 with the next support at 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4) and then 1.1017 (low Aug.19). On the upside, a breakout of 1.1296 (high Sep.24) would aim for 1.1330 (high Sep.21) and then 1.1373 (high Sep.14).
(Market News Provided by FXstreet)