Parity continues to walk north on Monday, conspiring to see AMB President Mario Draghi break up the 1.1900 psychological level following his talk at the Jackson Home Symposium on Friday.
The continuation of weakness around the USD has supported the parity’s upward momentum and now seems to have shifted its focus to the critical 1.2000 psychological level. On the other hand, the US Dollar Index is at the bottom of the year 2017 near 92.30.
Part continues to remain intact despite Draghi’s failure to provide any news on future QE moves, though the AMB meeting on September 7th will be critical on this issue.
On the data front, the Euro zone Private Sector Loans and M3 Money Supply data are expected, while the US is expected to deliver July Merchandise Trade Balance and the Dallas Fed Manufacturing Index.
The EUR / USD pair is currently trading at 1.1929 with a gain of 0.03%.
Significant technical levels for EUR / USD
1.1660 (10-day SMA), 1.1670 (5-month upward trend), and 1.1611 (26 July bottom) levels at 1.1960 (August 28 summit 2017), 1.2000 (psychological level) and 1.2042 Support for the parity.