EUR/USD slips to 1.1320, fresh lows

By FXStreet FXStreet (Edinburgh) – The shared currency keeps losing ground vs. the dollar albeit at snail pace, pushing EUR/USD to session lows in the 1.1320/15 band.

EUR/USD retreats from highs near 1.1380

After an ephemeral test of session tops near 1.1380, spot initiated a leg lower to the current 1.1320 area, while risk-off trends continue to dwindle as the European session is underway. It is worth noting that poor results in the Chinese economy over the weekend have sparked a wave of risk aversion in the global markets, although the trend lost vigour after the Asian session.

Absent data across the pond, the only releases in Euroland showed consumer prices in the Italian economy advancing 0.2% MoM in August, while EMU’s Industrial Production surprised markets to the upside, expanding at a seasonally adjusted monthly pace of 0.6% in July.

EUR/USD key levels

The pair is retreating 0.12% at 1.1320 and a breach of 1.1300 (psychological level) would target 1.1253 (low Sep.11) en route to 1.1147 (low Sep.9). On the other hand, the next hurdle lines up at 1.1374 (high Sep.14) followed by 1.1498 (high Aug.23) and finally 1.1523 (high Aug.27).
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Source:: FX Street