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Forex pairs in this Article » EUR/USD (Edinburgh) -The single currency remains locked with in the intraday range on Tuesday, with the EUR/USD hovering over the 1.3170/75 region.

EUR/USD focus on EMU data

The single currency will be in the limelight on Wednesday, as key releases are due in the bloc: services PMI, Retail Sales (-0.4% YoY exp.) and GDP during the second quarter (0.3% QoQ). Across the pond, US Trade Balance figures during July will take centre stage ahead of Fed’s William Bullard’s speech and the Fed’s Beige Book. According to BBH Global Currency Strategy Team, “The break below $1.3180-$1.3200 may be significant if sustained. The next target is near $1.3100 and then $1.3020”.

EUR/USD key levels

At the moment the pair is losing 0.14% at 1.3172 and a breakdown of 1.3144 (MA200d) would target 1.3115 (low Jul.22) en route to 1.3089 (low Jul.19). On the upside, the initial hurdle lines up at 1.3237 (high Sep.2) ahead of 1.3255 (high Aug.30) and finally 1.3298 (low Aug.22).
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