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3 Sep 2015
EUR/USD advances to 1.1130
FXStreet (Edinburgh) - After bottoming out around 1.1090/85 in the wake of Draghi’s presser, EUR/USD has managed to recover the 1.1100 handle and advance further to the 1.1120/30 band.
EUR/USD weaker ahead of Payrolls
The pair has been grinding lower since Tuesday’s rejection around the 1.1330 area, hurt by the solid performance of the greenback against the backdrop of renewed hopes of a Fed’s lift-off this month and a positive reading out of tomorrow’s Non-farm Payrolls (220K exp.).
Adding to the downbeat sentiment, the ECB has delivered a dovish tone at today’s meeting, revising lower its projections for economic growth and inflation in the euro area for the upcoming periods and at the same time leaving the door open for further QE.
EUR/USD key levels
At the moment the pair is losing 0.87% at 1.1128 with the immediate support at 1.1107 (low Sep.3) followed by 1.1057 (low Aug.12) and then 1.1017 (low Aug.20). On the other hand, a break above 1.1294 (high Sep.2) would expose 1.1320 (high Sep.2) and finally 1.1333 (high Sep.1).
EUR/USD weaker ahead of Payrolls
The pair has been grinding lower since Tuesday’s rejection around the 1.1330 area, hurt by the solid performance of the greenback against the backdrop of renewed hopes of a Fed’s lift-off this month and a positive reading out of tomorrow’s Non-farm Payrolls (220K exp.).
Adding to the downbeat sentiment, the ECB has delivered a dovish tone at today’s meeting, revising lower its projections for economic growth and inflation in the euro area for the upcoming periods and at the same time leaving the door open for further QE.
EUR/USD key levels
At the moment the pair is losing 0.87% at 1.1128 with the immediate support at 1.1107 (low Sep.3) followed by 1.1057 (low Aug.12) and then 1.1017 (low Aug.20). On the other hand, a break above 1.1294 (high Sep.2) would expose 1.1320 (high Sep.2) and finally 1.1333 (high Sep.1).