EUR/USD on its way to 1.3300?
The IFO – Expectations improved to 103.3 for the month of August, bettering estimates and July’s 102.4, although it seems insufficient to propel the pair beyond 1.3390/1.3400 so far. On the contrary, the pair eased to fresh weekly lows around 1.3320, threatening to extend the correction to lower levels. Next on tap will be a Spanish auction of 3m Letras, followed by the US S&P/Case-Shiller index and the Consumer Confidence.
EUR/USD levels to consider
As of writing the pair is now losing 0.24% at 1.3334 with the next support at 1.3299 (low Aug.22) followed by 1.3285 (MA30d) and then 1.3222 (weekly top cloud). On the upside, a break above 1.3394 (high Aug.26) would target 1.3410 (high Aug.23) en route to 1.3427 (high Aug.21).
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 securities. 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 Forex 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.