EUR/USD supply fortified at 1.1200/40 – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the Americans closed the day modestly higher across the board, with stocks volatility and Central Banks in the eye of the storm.

Key Quotes:

“During Asian hours, stocks soared with the Nikkei 225 rallying over 1,340 points, which led to a strong opening amongst European equities. US futures traded also sharply higher, but with little macroeconomic data around, and attention focusing on a US possible rate hike, and more easing chatter in Asia, stocks faded the rally and ended the day with losses. In the US, The number of job openings rose to a record high of 5.8 million on the last business day of July, according to the US Bureau of Labor Statistics, fueling hopes that the FED’s may begin raising its rates as soon as next September 17th.

The EUR/USD pair traded as low as 1.1131 at the beginning of the American session, from where it slowly bounced back to close the day near the 1.1200 level. The early attempts to break through the figure have been short lived, with sellers still aligned in the 1.1200/40 region. “
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Source:: FX Street