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11 Sep 2015
EUR/USD little changed after U. of Michigan consumer sentiment
FXStreet (Córdoba) - EUR/USD edged a tad higher and reached fresh session highs at the 1.1300 area following the release of softer than expected US consumer confidence data.
US University of Michigan consumer sentiment index fell to 85.7 in September, from 91.9 the previous month and below the 91.2 expected.
The dollar weakened slightly against the euro, with EUR/USD reaching a high of 1.1298, but failed to maintain altitude and it was last trading at 1.1280, just where it was before the release, virtually unchanged on the day.
FX market seems to be going through a transition phase as attention remains on Federal Reserve next week's meeting.
EUR/USD levels to watch
As for technical levels, immediate resistances line up at 1.1309 (Sep 11 high), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the flip side, supports are seen at 1.1253/49 (Sep 11 low/200-day SMA), 1.1171 (Sep 10 low) and 1.1130/35 (Sep 9 low/100-day SMA).
US University of Michigan consumer sentiment index fell to 85.7 in September, from 91.9 the previous month and below the 91.2 expected.
The dollar weakened slightly against the euro, with EUR/USD reaching a high of 1.1298, but failed to maintain altitude and it was last trading at 1.1280, just where it was before the release, virtually unchanged on the day.
FX market seems to be going through a transition phase as attention remains on Federal Reserve next week's meeting.
EUR/USD levels to watch
As for technical levels, immediate resistances line up at 1.1309 (Sep 11 high), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the flip side, supports are seen at 1.1253/49 (Sep 11 low/200-day SMA), 1.1171 (Sep 10 low) and 1.1130/35 (Sep 9 low/100-day SMA).