EUR/USD tests fresh lows post-US PCE, near 1.1160
|The greenback has gathered extra traction in the wake of US releases today, sending EUR/USD to fresh lows in the 1.1160 area.
EUR/USD weaker as sentiment deteriorates
The pair has intensified its daily downside after US inflation figures tracked by the PCE has surprised markets to the upside, rising 1.6% on a year to July vs. 1.5% expected. On a monthly basis, the PCE rose 0.1%, matching estimates.
Further releases saw Personal Income and Personal Spending expanding 0.4% and 0.3% inter-month, in line with prior surveys.
Spot has briefly tested the vicinity of 1.1160, where it seems to have found decent support for the time being.
EUR/USD levels to watch
The pair is now losing 0.21% at 1.1171 and a breakdown of 1.1153 (55-day sma) would open the door to 1.1119 (200-day sma) and finally 1.1043 (low Aug.5). On the other hand, the next hurdle lines up at 1.1357 (high Aug.23) followed by 1.1367 (high Aug.18) and then 1.1434 (high Jun.24).
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