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3 Aug 2015
EUR/USD stays near lows after US data
FXStreet (Córdoba) - EUR/USD continues to trade at daily lows, having erased almost completely Friday’s gains, barely affected by the release of US consumer spending data.
US personal spending rises 0.2% in June
US Personal spending rose 0.2% in June, posting the smallest gain since February and matching expectations, while personal income rose 0.4% in the same month, slightly above the 0.3% rise expected.
Meanwhile, consumer inflation measured by PCE price index, the Fed’s preferred inflation gauge, rose 0.2% in June and 0.3% YoY, while excluding volatile food and energy categories, PCE price index rose 0.1% MoM and 1.3% YoY.
EUR/USD edged slightly up but remained overall unchanged trading near lows at the 1.0950 area, down 0.3% on the day. The pair reached a high of 1.113 Friday’s NY session following disappointing US wage data, but failed to hold and retraced most gains.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next resistances at 1.0995 (Aug 3 high/100-hour SMA), 1.1023 (100-day SMA) and 1.1113 (Jul 31 high). On the other hand, supports are seen at 1.0940 (Aug 3 low), 1.0920 (Jul 31 low) and 1.0893 (Jul 30 low).
US personal spending rises 0.2% in June
US Personal spending rose 0.2% in June, posting the smallest gain since February and matching expectations, while personal income rose 0.4% in the same month, slightly above the 0.3% rise expected.
Meanwhile, consumer inflation measured by PCE price index, the Fed’s preferred inflation gauge, rose 0.2% in June and 0.3% YoY, while excluding volatile food and energy categories, PCE price index rose 0.1% MoM and 1.3% YoY.
EUR/USD edged slightly up but remained overall unchanged trading near lows at the 1.0950 area, down 0.3% on the day. The pair reached a high of 1.113 Friday’s NY session following disappointing US wage data, but failed to hold and retraced most gains.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next resistances at 1.0995 (Aug 3 high/100-hour SMA), 1.1023 (100-day SMA) and 1.1113 (Jul 31 high). On the other hand, supports are seen at 1.0940 (Aug 3 low), 1.0920 (Jul 31 low) and 1.0893 (Jul 30 low).