EUR/USD clinches 1.1300, and beyond

By FXStreet FXStreet (Edinburgh) – The buying interest surrounding the euro is now gaining further ground, sending EUR/USD to test once again levels above 1.1300 the figure.

EUR/USD stronger, dollar weakens

Poor inflation figures in the US economy during August were the catalyst EUR-bulls have been waiting for in order to not only regain the positive territory but also to challenge levels in the 1.1300 neighbourhood once again.

That said, spot keeps the firmer footing along with diminishing expectations of a Fed’s lift off at the FOMC meeting tomorrow. However, the cautious tone might return to the markets later, as consensus amongst traders remains biased towards a hawkish tone from the Fed, in spite of keeping rates unchanged.

EUR/USD key levels

The pair is up 0.27% at 1.1300 with the next resistance at 1.1328 (high Sep.15) ahead of 1.1374 (high Sep.14) and then 1.1523 (high Aug.26). On the other hand, a breakdown of 1.1214 (low Sep.16) would aim for 1.1171 (low Sep.10) and finally 1.1131 (low Sep.9).
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Source:: FX Street