FxWirePro: EUR/USD extends gains ahead of European open, risk-aversion underpins euro
Monday, September 14, 2015 6:48 AM UTC
- EUR/USD remains on higher plane on less hawkish Fed view and as risk-off intensifies on mounting China fears
- The pair remained bid in Asia in a relatively tight 1.1328-60 range and is extending the positive momentum into European open
- The major is holding on to last week's 1.8 percent gain and is likely to extend gains further into the week
- Markets remain wary ahead of Thursday's Fed decision, on increased speculations that the Fed rate hike could be pushed back to early 2016
- EUR/USD is currently trading at 1.1357, with immediate resistance at 1.1363 (Aug 27 high) and support at 1.1320 (daily kijun)
- Euro zone industrial figures due later today eyed amidst an absolutely empty US calendar for further direction in the pair