13 Aug 2015
EUR/USD holds above 1.1100
FXStreet (Córdoba) - EUR/USD remains steady near lows after briefly dropping to levels sub-1.1100 on the back of solid US retail sales.
EUR/USD has been trimming yesterday’s gains as the dollar regained ground after the PBoC weakened the yuan for third time but indicated that the currency adjustment is nearly complete. EUR/USD pulled back from yesterday’s peak of 1.1213 to a low of 1.1079 before finding support. At time of writing, the pair is trading at 1.1120, 0.3% below its opening price.
On the data front, US retail sales rebounded in July, rising 0.6% from a month earlier and beating expectations of a 0.5% increase, adding fuel to expectations the Fed could hike rates in September.
EUR/USD levels to watch
In terms of technical levels, next supports are seen at 1.1079 (Aug 13 low), 1.1036 (100-day SMA) and 1.1000 (psychological level). On the flip side, resistances could be found at 1.1188 (Aug 13 high) and 1.1213 (Aug 12 high).
EUR/USD has been trimming yesterday’s gains as the dollar regained ground after the PBoC weakened the yuan for third time but indicated that the currency adjustment is nearly complete. EUR/USD pulled back from yesterday’s peak of 1.1213 to a low of 1.1079 before finding support. At time of writing, the pair is trading at 1.1120, 0.3% below its opening price.
On the data front, US retail sales rebounded in July, rising 0.6% from a month earlier and beating expectations of a 0.5% increase, adding fuel to expectations the Fed could hike rates in September.
EUR/USD levels to watch
In terms of technical levels, next supports are seen at 1.1079 (Aug 13 low), 1.1036 (100-day SMA) and 1.1000 (psychological level). On the flip side, resistances could be found at 1.1188 (Aug 13 high) and 1.1213 (Aug 12 high).