EUR/USD rejected ahead of 1.11 barrier, slips back to trade muted around 1.1068 levels.
- Recovery in the pair was short-lived, the major slipped back into the negative territory
- Steep losses in EUR/GBP after above expectations UK CPI data, dragging EUR/USD lower
- Markets cautious ahead of a looming big debt repayment to the ECB on Thursday, focus also on US housing starts and building permits data due later today
- EUR/USD is currently trading at 1.1067, with immediate resistance at 1.1121 (Cloud Top) and then 1.1123 (Aug 16 High)
- On the flip side, support is seen at 1.1041 (10 DMA), below which it could extend losses to 1.1035 (Tenkan-Sen)
Resistance Levels:
R1: 1.1121 (Cloud Top)
R3: 1.1123 (Aug 16 High)
R2: 1.1189 (Daily High Aug 13 & 14)
Support Levels:
S1: 1.1041 (10 DMA)
S2: 1.1035 (Tenkan-Sen)
S3: 1.1024 (Daily Low Aug 12)
