EUR/USD turns negative near 1.1240 ahead of data

The shared currency is now losing the grip vs. its American peer, taking EUR/USD to the negative territory near 1.1240.

EUR/USD attention to US data

The pair’s upside seems to have lost momentum on Thursday following yesterday’s strong advance to the vicinity of 1.1280, motivating spot to recede to the current area while the dollar’s performance remains steady so far.

On the data front, EMU’s final inflation figures for the month of August are due later along with July’s trade balance results.

Across the pond, key Retail Sales, Producer Prices, the usual report on the US labour market, the Philly Fed manufacturing Survey and Industrial Production will keep the attention on the USD side.

EUR/USD levels to watch

The pair is now losing 0.03% at 1.1246 and a break below 1.1198 (2014-2016 support line) would target 1.1146 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the initial hurdle aligns at 1.1274 (high Sep.14) followed by 1.1301 (resistance line off 2016 high) and finally 1.1329 (high Sep.8).