Wednesday, September 9, 2015

EUR/USD fails again near 1.1200

FXStreet (Edinburgh) - The shared currency has trimmed most of its pullback to the mid-1.1100s seen in early trade, although EUR/USD still struggles to break above 1.1200 on a sustainable basis.

EUR/USD capped by 1.1230

Spot is coming lower from recent tops near the 1.1230 area, remaining apathetic to auspicious releases in the euro area while keeping its attention to the USD-dynamics, particularly any hints on the timing of the Fed’s lift-off.

The next risk event for the pair will be Friday’s release of the final figures of German inflation during last month, with headline prices expected to have risen at an annual pace of 0.2%. Across the pond, Initial Claims is due tomorrow followed by the Reuters/Michigan index on Friday.

EUR/USD key levels

The pair is retreating 0.20% at 1.1179 with the immediate support at and a 1.1147 (low Sep.9) followed by 1.1089 (low Sep.4) and finally 1.1057 (low Aug.12). On the other hand, a breakout of 1.1224 (high Sep.8) would target 1.1243 (high Sep.3) en route to 1.1294 (high Sep.2).
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