EUR/USD may require forthcoming data to shake things up

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3537, up 0.04% on the day, having posted a daily high at 1.3538 and low at 1.3529.



EUR/USD consolidated the losses in Europe, and has been ranging in a tight spot and sideways since. Sean Callow, analyst at Westpac Banking Corporation ABN explained that in Europe we will see the ECB monthly report, for discussion on last week’s decision but no new policy information. “April EZ industrial production is also due. The week’s most important US data release is today: May retail sales. After a very muted 0.1% total, zero ex-autos reading in April, consensus is for a May rebound of 0.6% m/m overall, 0.4% on each of the various ‘core’ measures. Weekly jobless claims and Apr business inventories are also due”.



EUR/USD Levels



Spot is presently trading at 1.3536, and next resistance can be seen at 1.3537 (Weekly Classic S1), 1.3538 (Daily High), 1.3547 (Monthly Low), 1.3547 (Weekly Low) and 1.3558 (Yesterday's High). Next support to the downside can be found at 1.3536 (Hourly 20 EMA), 1.3532 (Daily Open), 1.3529 (Daily Low), 1.3521 (Yesterday's Low) and 1.3518 (Daily Classic S1).



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