30 Jul 2015
EUR/USD within range around 1.0960
FXStreet (Edinburgh) - The single currency remains mired in the negative territory against the dollar on Thursday, sending EUR/USD to the mid-1.0900s so far.
EUR/USD muted on German data
The pair paid little attention to the German labour market figures, where the jobless rate came in at a seasonally adjusted 6.4% during July and the Unemployment Change increased by 9K. Still in Germany, next on tap will be the flash consumer prices, expected to have risen 0.3% on a year to July.
In a favourable environment for the US dollar, spot continues to trade in the lower band of the weekly range near 1.0950 ahead of the first estimate of the US GDP for the second quarter, expected to rebound to 2.6% from the previous contraction of 0.2%.
EUR/USD levels to watch
As of writing pair is losing 0.20% at 1.0961 and a breakdown of 1.0923 (low Jul.23) would aim for 1.0869 (low Jul.22) and then 1.0811 (low Jul.21). On the flip side, the next up barrier aligns at 1.1080 (high Jul.29) ahead of 1.1130 (high Jul.27) and finally 1.1197 (high Jul.13).
EUR/USD muted on German data
The pair paid little attention to the German labour market figures, where the jobless rate came in at a seasonally adjusted 6.4% during July and the Unemployment Change increased by 9K. Still in Germany, next on tap will be the flash consumer prices, expected to have risen 0.3% on a year to July.
In a favourable environment for the US dollar, spot continues to trade in the lower band of the weekly range near 1.0950 ahead of the first estimate of the US GDP for the second quarter, expected to rebound to 2.6% from the previous contraction of 0.2%.
EUR/USD levels to watch
As of writing pair is losing 0.20% at 1.0961 and a breakdown of 1.0923 (low Jul.23) would aim for 1.0869 (low Jul.22) and then 1.0811 (low Jul.21). On the flip side, the next up barrier aligns at 1.1080 (high Jul.29) ahead of 1.1130 (high Jul.27) and finally 1.1197 (high Jul.13).