EUR/USD flirts with 1.1100 post-EMU data
|The common currency keeps the firm footing at the end of the week, with EUR/USD toying with the 1.1100 region following EMU’s releases.
EUR/USD clinches highs on data
The pair has advanced further after preliminary consumer prices in the euro area are expected to rise 0.2% on a year to July, a tad higher than initial estimates. Core prices are seen gaining 0.9% over the last twelve months.
Further data saw advanced Q2 GDP figures matching consensus, expecting the economy to have expanded 0.3% QoQ and 1.6% on an annualized basis. The unemployment rate stayed put at 10.1% during last month, in line with forecasts.
Spot remains well on track to close its first week after three consecutive pullbacks and looking to consolidate the breakout of the 1.1100 barrier.
EUR/USD levels to watch
The pair is now gaining 0.30% at 1.1110 facing the initial hurdle at 1.1166 (high Jul.14) followed by 1.1184 (high Jul.5) and then 1.1260 (base of the 7-month rising channel). On the flip side, a breakdown of 1.0950 (low Jul.25) would target 1.0913 (post-Brexit low Jun.24) en route to 1.0820 (low Mar.10).
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.