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19 May 2015
EUR/USD sub-1.1200 ahead of US data
FXStreet (Edinburgh) - The demand for the European currency remains subdued on Tuesday, with EUR/USD trading in the 1.1190/85 band so far.
EUR/USD attention to US data
The pair is entrenched in the negative territory during the first half of the week, extending its correction lowers after being rejected from the boundaries of the critical 1.1500 handle last week.
While the vulnerability around Greece remains the main drag for the EUR in light of the EU Leaders summit, the US housing sector will take centre stage later, with Housing Starts and Building Permits due for publication.
EUR/USD relevant levels
As of writing the pair is down 1.24% at 1.1175 with the next support at 1.1160 (low May 19) ahead of 1.1131 (low May 11) and then 1.1106 (38.2% of 1.0521-1.1468). On the flip side, a break above of 1.1278 (38.2% of 1.1468-1.1160) would expose 1.1289 (10-d MA) and then 1.1328 (high May 19).
EUR/USD attention to US data
The pair is entrenched in the negative territory during the first half of the week, extending its correction lowers after being rejected from the boundaries of the critical 1.1500 handle last week.
While the vulnerability around Greece remains the main drag for the EUR in light of the EU Leaders summit, the US housing sector will take centre stage later, with Housing Starts and Building Permits due for publication.
EUR/USD relevant levels
As of writing the pair is down 1.24% at 1.1175 with the next support at 1.1160 (low May 19) ahead of 1.1131 (low May 11) and then 1.1106 (38.2% of 1.0521-1.1468). On the flip side, a break above of 1.1278 (38.2% of 1.1468-1.1160) would expose 1.1289 (10-d MA) and then 1.1328 (high May 19).