Resurfacing fears over a deepening crisis in China property sector and its potential negative impact on the global economy caused investors to seek refuge in the Asian trading hours on Monday. After staying in negative territory earlier in the day, however, US stock index futures turned flat in the European morning, helping EUR/USD find support.will not be featuring any data releases that could impact EUR/USD action later in the day.
Meanwhile, Bloomberg reported earlier in the day that the results of a recently conducted survey showed that economists expect the European Central Bank to raise key rates one more time in September. Nevertheless, this headline had little to no impact on the Euro's valuation. EUR/USD continues to trade below the 20-period and the 50-period Simple Moving Averages and the Relative Strength Index indicator stays below 50, reflecting a lack of buyer interest.
If EUR/USD fails to reclaim 1.0960, sellers could look to retain control. In that scenario, 1.0920 , 1.0900 and 1.0860 could be set as next bearish targets.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.