FXStreet (Edinburgh) – The common currency is now looking to trim some losses after dropping to the boundaries of 1.1300, with EUR/USD returning to the 1.1315/20 band.
EUR/USD surrender gains, focus on ZEW
The pair has faded this morning’s spike to session peaks near 1.1380 propped up by the increasing risk aversion in response to Chinese disappointing releases.
As the European session unfolded, the dollar gathered further traction and confined spot to the lower bound of the range in the 1.1300 neighbourhood.
Next of relevance in the pair will be tomorrow’s ZEW Survey in Germany and the euro area, followed by Retail Sales and Industrial Production in the US economy.
EUR/USD key levels
The pair is retreating 0.20% at 1.1314 and a breach of 1.1292 (low Aug.26) 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).
(Market News Provided by FXstreet)