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27 Aug 2015
EUR/USD extends losses, hits fresh 1-week lows
FXStreet (Córdoba) - EUR/USD has continued to move lower and posted fresh 1-week lows at the beginning of the New York session as the dollar was bolstered by better-than-expected US GDP and jobless claims figures.
EUR/USD extended losses and bottomed out at 1.1225 and continues to trade near lows, almost 500 pips below its Monday peak of 1.1712. At time of writing, the pair is trading at 1.1235, recording a 0.68% loss on the day.
Investors are closely monitoring US economic data as the Fed has made it clear that the timing of the lift-off will be data dependent. Next on tap, data includes pending home sales and the Kansas Fed manufacturing index.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next supports at 1.1213 (Aug 12 high), 1.1200 (psychological level) and 1.1130 (20-day SMA). On the flip side, resistances are seen at 1.1300 (psychological level), 1.1317 (200-day SMA) and 1.1364 (Aug 27 high).
EUR/USD extended losses and bottomed out at 1.1225 and continues to trade near lows, almost 500 pips below its Monday peak of 1.1712. At time of writing, the pair is trading at 1.1235, recording a 0.68% loss on the day.
Investors are closely monitoring US economic data as the Fed has made it clear that the timing of the lift-off will be data dependent. Next on tap, data includes pending home sales and the Kansas Fed manufacturing index.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next supports at 1.1213 (Aug 12 high), 1.1200 (psychological level) and 1.1130 (20-day SMA). On the flip side, resistances are seen at 1.1300 (psychological level), 1.1317 (200-day SMA) and 1.1364 (Aug 27 high).