FXStreet (Guatemala) - EUR/USD is currently trading at 1.1383 with a high of 1.1495 and a low of 1.1363 in the US session.
EUR/USD was set back on EZ equities performances from the highs of 1.1482 and the pair continued south on the back of the upside surprises in the CPI data, (1.9% vs 1.8% exp 1.8% and prev), putting the pair back to 1.1400 level. This was then penetrated down to aforementioned lows ahead of the ECB next week.
There is speculation that the ECB will need to expand the QE programme and comments from ECB's Nowotny speaking in Warsaw who said, "In my view it's quite obvious that additional sets of instruments are necessary," do not help the euros case. We also had a mixed-message-Dudley crossing the wires. He essentially has told the market that there will not be a rate rise this year until data improves.
Loretta Mester, president of the Federal Reserve Bank, Cleveland has just started to speak and say's that the US economy could handle a hike, suggesting that that economy has made substantial progress, expecting inflation to return to 2% while close to being at full employment.
EUR/USD levels
Technically, We have the golden cross at 1.1160 to offer strong upside support, underpinning the bullish formation while on any pull-back below the 1.1200 handle on the wide while price targets 1.1560, the last daily high on the 25th August.
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