EUR/USD reached new highs but was unable to sustain them. What’s next? PMI data stands out in the first week of September. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Conflicting headlines about Italy’s willingness to breach euro-zone budget rules somewhat weighed on the euro. The US and Mexico reached a deal that cheered markets, sent stocks higher and the greenback lower. US GDP beat with 4.2% in the second release for Q2 while consumer the CB confidence reached the highest levels since 2000, helping the greenback recover.
Updates:
EUR/USD daily chart with support and resistance lines on it.
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