Intra-day news and views and data to be released today – EUR/USD

AceTrader Team AceTrader

Intra-day market moving news and views

Update Time: 05 Aug 2021 05:30GMT.

EUR/USD - 1.1833.. Euro remains under pressure in Asia following Wednesday's selloff from 1.1899 to 1.1834 in New York morning on broad-based USD's rally as despite intra-day jump to 1.1899 after downbeat U.S. ADP private payrolls, the release of robust US ISM non-mfg index which hit a record high n then-Fed Clarida's hawkish comments caught the market wrong-footed n triggered a ferocious broad-based short-covering rally in the greenback.

As Wednesday's renewed USD's strength continues to weigh on the single currency, a daily close below 1.1800 handles would strongly suggest correction from July's 3-1/2 month bottom at 1.1753 has ended at 1.1909 last Friday n yield further weakness to 1.1771/73.

Offers are tipped at 1.1840/50 n more above with stops reported above 1.1900.

Some bids are noted at 1.1835/30 with some stops below there, more stops are touted below 1.1800.

On the data front, we have German industrial orders, France's industrial output n the EU's economic bulletin.

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AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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