EUR/USD pulling back losses below 1.32 handle

By FXstreet.com | August 28, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3181, down -0.09% on the day, having posted a daily high at 1.3222 and low at 1.3160.



EUR/USD’s behaviour toward the end of the week is erratic ahead of the ECB next week. The pair has taken a hit to drop below the 1.32 handle and bulls are attempting to buy in for cheap. The next set of data is key from Europe and tomorrow’s flash CPI release in Europe (consensus is calling for it to come in at 0.3%y/y on headline and 0.8% y/y on core) will serve as a core input for ECB expectations, according to Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank.



EUR/USD hourly levels



With spot trading at 1.3181, we can see next resistance ahead at 1.3188 (Hourly 20 EMA), 1.3193 (Daily Open), 1.3195 (Hourly 100 SMA) and 1.3211. Support below can be found at 1.3175 (Weekly Classic S1), 1.3168 and 1.3160 (Daily Classic S1).



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