OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD: Bulls eye critical levels on 1.15 handle

FXStreet (Guatemala) - EUR/USD is currently trading at 1.1475 with a high of 1.1485 and a low of 1.1478.

EUR/USD was better bid on US dollar weakness among bad data from the US economy that all points to lower growth and inflation vs the FOMC's requirements for lift-off.

EUR/USD rallied on the retails sales and PPI misses and further demand for the euro ensued post the Beige Book's findings that were also painting a negative picture, notably that labour conditions tightened across all districts and wage growth was subdued except for skilled work.

EUR/USD levels

EUR/USD is struggling to offer a convincing test for the 1.15 handle, stopped short at 1.1489 in the US afternoon towards the close. A consolidation period is taking shape currently with the price heading towards overbought territory according to hourly RSI at 67.

We have the golden cross at 1.1160 that should offer strong support on any pull-back below the 1.1200 handle on the wide while price targets 1.1560, the last daily high on the 25th August.

RBA interest rates preview: What to expect in AUD/USD?

AUD/USD has been collecting demand again supported by the 200 SMA on the hourly chart after a period of profit taking instigated on concerns from China again, while otherwise, risk appetite had returned with base metals and oil bouncing back and gold rising as well allowing the Aussie to recover vs a weaker greenback and sentiment for a Fed hike of late.
Read more Previous

Aussie jobs data run down, before event - Westpac

Analysts at Westpac Banking Corporation explained that the Australian labour force survey results will be released 11:30am Syd/8:30am Sing/HK.
Read more Next
Start livechat