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6 Aug 2015
EUR/USD keeps lows near 1.0890
FXStreet (Edinburgh) - A sudden bout of selling pressure around the shared currency has dragged EUR/USD to test daily lows in the 1.0890 area.
EUR/USD attention to BoE, US data
The pair has faded the early spike to the vicinity of 1.0950 against a backdrop of an initial sentiment towards the risk-on trade, now dropping to fresh intraday lows in the 1.0890/85 band.
The demand for the single currency will be put to the test later on via EUR/GBP, as the BoE will hold its MPC meeting, followed by the minutes and the Quarterly Inflation Report.
Across the pond, US Initial Claims will be the main highlight, with consensus expecting 273K in the week ended on July 31st.
EUR/USD relevant levels
As of writing the pair is losing 0.14% at 1.0890 with the next support at 1.0848 (low Aug.5) ahead of 1.0811 (low Jul.11) and then 1.0789 (low Apr.24). On the flip side, a break above 1.0944 (high Jul.6) would target 1.0990 (high Aug.4) en route to 1.1080 (high Jul.29).
EUR/USD attention to BoE, US data
The pair has faded the early spike to the vicinity of 1.0950 against a backdrop of an initial sentiment towards the risk-on trade, now dropping to fresh intraday lows in the 1.0890/85 band.
The demand for the single currency will be put to the test later on via EUR/GBP, as the BoE will hold its MPC meeting, followed by the minutes and the Quarterly Inflation Report.
Across the pond, US Initial Claims will be the main highlight, with consensus expecting 273K in the week ended on July 31st.
EUR/USD relevant levels
As of writing the pair is losing 0.14% at 1.0890 with the next support at 1.0848 (low Aug.5) ahead of 1.0811 (low Jul.11) and then 1.0789 (low Apr.24). On the flip side, a break above 1.0944 (high Jul.6) would target 1.0990 (high Aug.4) en route to 1.1080 (high Jul.29).