Intra-Day Market Moving News and Views -EUR/USD

Intra-Day Market Moving News and Views
10 Aug 2018 03:00GMT

EUR/USD - 1.1535.. Although the single currency swung broadly sideways in Asian and European morning on Thursday, price later tumbled in New York as dlr caught a bid in New York session, price early penetrated Mon's 1-month low to a 6-week trough of 1.1526 ahead of New York close, then 1.1517 in Australia this morning.

Yesterday's close below 1.1530 suggests re-test of June's 11-month bottom is on the cards, however, euro needs to take out reported option defence at 1.1500 in order to extend Medium Term downtrend to next downside target at 1.1448 early next week, perhaps the release of higher-than-expected U.S. inflation data will be the catalyst for such a move.
For now, offers are tipped at 1.1540/50 and more above with some stops above 1.1575.
Bids are noted at 1.1520-10 with stops touted below 1.1500.

Euro area eco. calendar is pretty light with France's industrial orders and Italy's trade balance due out during European morning.

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