FxWirePro: EUR/USD recovery short-lived, steep losses in EUR/GBP weigh
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 expecta…
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)
