EUR USD Fundamental Analysis 4
8/15/2016 8:36:13 AM
EUR/USD is seen testing the key 1.1150 support in post-China open, expanding its sharp weakening from weekly highs got above 1.1220 last week. Now, EUR/USD trades regular at 1.1160, playing with session lows published at 1.1155. The main currency pair keeps the weakness bias complete among a better bid USD against its major peers, reinforced by optimistic comments from Fed official Bullard delivered late-Friday. EUR/USD almost return whole poor retail sales and PPI data inspired gains and now wait for fresh motivation from a string of crucial economic releases from both continents in the week ahead, in order to measure next direction on the major. In the meantime, today’s macro calendar stays properly light among holiday-thinned markets, as emphasis shifts towards the German ZEW and US CPI figures aligned for release tomorrow. In technical view, the pair finds the immediate persistence 1.1205. A break beyond the last, doors will open for a test of 1.1225. On the other hand, the immediate support is located at 1.1130 below which 1.1100 could be tested.