EURUSD tests daily highs below 1.10, October 08

The EURUSD pair is now moving to the 1.0980 level, or testing daily highs, following positive German data.

The pair seems to have met an impressive resistance in the 1.1000 level for now. Meanwhile, traders keep on looking to the upcoming US-Sino trade negotiations on Thursday and Friday for a more clear direction in the currency pairs.

The European currency has pulled out additional support after German Industrial Production rose by 0.3% in August, better than expected, reversing simultaneously July’s 0.4% contraction.

Fed’s Jerome Powell will speak later in Denver. Also, later in the day, US NFIB Index is expected seconded by September’s Producer Prices.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.

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