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Forex pairs in this Article » EUR/USD (Edinburgh) -The shared currency is meandering around the bottom of the intraday range so far, taking the EUR/USD to fresh lows in the area of 1.3545/40.

EUR/USD focus on Germany, Draghi

The shared currency is extending its correction lower from Tuesday’s peaks beyond 1.3610, amidst rising concerns about the US debt ceiling and the absence of progress in order to overcome the situation. Ahead in the day, German industrial production would be in the spotlight in Europe, with consensus pointing to a monthly expansion of 1.0% during August. Across the pond, the FOMC minutes will grab all the attention against the backdrop of a decent recovery of the greenback from multi-month lows. ECB’s President M.Draghi will give a speech in Cambridge, although no market reaction is expected.

EUR/USD key levels

The pair is now losing 0.14% at 1.3552 and a breakdown of 1.3549 (MA10d) would target 1.3543 (low Oct.7) en route to 1.3538 (low Oct.4). On the flip side, the initial resistance lies at 1.3582 (high Oct.8) followed by 1.3591 (high Oct.7) and finally 1.3632 (high Oct.4).
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