FXStreet (Edinburgh) - EUR/USD has faded the spike to multi-day tops in the vicinity of 1.1380 on Monday, now returning to the 1.1345/40 band.
EUR/USD propped up by risk aversion
Spot is extending its bullish momentum from last Friday, quickly advancing towards the upper-1.1300s while remains sustained by the Chinese-led risk aversion sentiment dominating the global markets so far.
Nothing worth noting data wise in Euroland, with Italian inflation figures and EMU’s Industrial Production, both in the pipeline later on in the day.
EUR/USD key levels
The pair is advancing 0.05% at 1.1341 facing the next hurdle at 1.1374 (high Sep.14) followed by 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27). On the other hand, a breach of 1.1327 (low Sep.14) would target 1.1253 (low Sep.11) en route to 1.1147 (low Sep.9).
For more information, read our latest forex news.
No comments:
Post a Comment