The sentiment around the single currency remains offered until now, with the EUR/USD moving around 1.1990/80 before the american session.
EUR/USD waiting for u.s. data
The pair remains in recovery mode until the time, seeking to gain the lost ground after the strong retreat from Monday until the area of 1.1925.
The new slant for sale around the u.s. dollar and the lack of traction on the yields of us continue to be the catalysts exclusive of the recent price action in the pair, while the speculations about the steps potential of the ECB in the coming months, appear to have taken a break.
Anyway, the investors are still considering the falls from time to time in the pair as buying opportunities, all in the context of a bullish bias, as long as the pair is traded above the support line of 5 months, today around 1.1780. In regard to the data, industrial production in the Eurozone increased by 0.1% mom in July and a 3.2% in the last twelve months.
On the other hand, producer prices for August will be assisted by the regular report of EIA inventories of raw american.
Levels of EUR/USD
For the moment, the pair is gaining 0.18% at 1.1987, and a break above 1.2041 (maximum of 11 September) would target 1.2092 (maximum of 6 of September) on the way to 1.2167 (50% Fibo of the fall 2014-2017).
To the low, lines of support are around 1.1946 (SMA 10 days), seconded by 1.1888 (SMA 21 days) and then 1.1823 (minimum of 31 August).