FxWirePro: EUR/USD extends bearish tone, positive U.S. data on Friday keeps USD supported
EUR/USD remains capped below 1.1100, extends declines for the fourth straight session on Monday, bearish tone intact. USD bulls remain supported by positive US data released on Friday which further reinforced Sept rate h…
EUR/USD remains capped below 1.1100, extends declines for the fourth straight session on Monday, bearish tone intact.
USD bulls remain supported by positive US data released on Friday which further reinforced Sept rate hike expectations.
No significant data to watch in the European session, while crucial US CPI data due later this week may provide further insights into the Fed rate hike timing.
EUR/USD is currently trading at 1.1086, with immediate resistance at 1.1123 (Aug 16 High) and then 1.1189 (Daily High Aug 13 & 14).
On the flip side, support is seen at 1.1081 (Daily Low Aug 13), below which it could extend losses to 1.1031 (Tenkan-Sen).
