Euro is nursing loss in subdued Asian morning
|EUR/USD - 1.1296.. Euro is nursing loss in subdued Asian morning after Wed's selloff from 1.1343 (Europe) to 1.1283. Despite yesterday's intra-day firmness, failure to re-test last Friday's 10-week peak at 1.1347 triggered profit taking and intra-day decline accelerated as the greenback caught a bid in New York trading, knocking the pair sharply lower.
Yesterday's decline suggests further choppy trading below Jun's 1.1347 high would continue with downside bias, offers are tipped at 1.1300/10 with stops above 1.1330.
Some bids are noted at 1.1285-80 and more below with stops touted below 1.1250.
ON the data front, Germany will release final CPI and final HICP and then EU's indurtial production.
The Eurogroup meets in Bressels today, ECB's Draghi and Coeure will participate in this meeting.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.