15 Sep 2015
EUR/USD recovers ground near 1.1320
FXStreet (Edinburgh) - The single currency has trimmed initial loses and is now flirting with the positive territory once again, pushing EUR/USD to the 1.1320/25 band.
EUR/USD choppy ahead of US docket
The pair is extending its consolidative range on Tuesday amidst increasing cautiousness amongst traders in light of the key FOMC meeting due on Thursday. According to initial opinions, the Fed could strike a USD-supportive tone in its statement, albeit a rate hike would still have to wait (until December?).
In the meantime, and back to the US economy, Retail Sales are due next with consensus pointing to a 0.3% advance in the headline print and 0.2% excluding the Auto sector. Further releases include Capacity Utilization, Industrial Production and the Empire State index.
EUR/USD key levels
The pair is retreating 0.03% at 1.1314 facing the next support at 1.1283 (low Sep.14) ahead of 1.1253 (low Sep.11) and then 1.1147 (low Sep.9). On the flip side, a breakout of 1.1374 (high Sep.14) would open the door to 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27).
EUR/USD choppy ahead of US docket
The pair is extending its consolidative range on Tuesday amidst increasing cautiousness amongst traders in light of the key FOMC meeting due on Thursday. According to initial opinions, the Fed could strike a USD-supportive tone in its statement, albeit a rate hike would still have to wait (until December?).
In the meantime, and back to the US economy, Retail Sales are due next with consensus pointing to a 0.3% advance in the headline print and 0.2% excluding the Auto sector. Further releases include Capacity Utilization, Industrial Production and the Empire State index.
EUR/USD key levels
The pair is retreating 0.03% at 1.1314 facing the next support at 1.1283 (low Sep.14) ahead of 1.1253 (low Sep.11) and then 1.1147 (low Sep.9). On the flip side, a breakout of 1.1374 (high Sep.14) would open the door to 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27).