EUR USD Fundamental Analysis 2
8/11/2016 11:14:33 AM
The selling interest seen behind the EUR/USD pair emphasized in the early European morning, dropping the spot to daily lows towards the mid-point of 1.11 handle. Now, EUR/USD trades -0.13% lower at fresh session lows of 1.1163, expanding the slide from just below 1.1200 levels. The main currency pair ran through fresh sellers as the dollar reclaimed ground across the board, presenting a minor-correction after recent sell-off. The USD index reflecting fresh five-day lows at 95.38 and now trades around 95.75, up +0.15% on the day. The EUR/USD pair is closely pursuing the USD price-action following the US NFP release and now wait for the US economic data and German progress numbers due Friday for fresh momentum on the pair. In the meantime, the EUR calendar lefts completely data-quiet today, and therefore, consideration turns towards the US jobless claims data that will be published in the NA session. In technical viewpoint, the pair finds the immediate persistence 1.1200. A break beyond the last, doors will open for a test of 1.1250. On the other hand, the immediate support is located at 1.1125 below which 1.1100 could be tested.
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