Ella 
Entering the European session on Wednesday, EUR/USD is on the defensive around 1.0915. Market participants await the release of euro zone second-quarter GDP and July’s reconciled inflation rate later this week. Euro zone GDP is expected to grow by 0.3% month-on-month and 0.6% year-on-year. The euro zone’s reconciled inflation rate is expected to remain at -0.1% on a monthly basis.
From a technical point of view, EUR/USD is holding below the 50 and 100-day EMAs, suggesting that its path of least resistance is to the downside. However, the RSI is around 50, indicating that its direction is unclear.
The key resistance level focuses on 1.0940, which is the 100-hour EMA moving average on the upper track of the Bollinger Channel. Follow-on buying above this level could pave the way for EUR to rise to the next hurdles at 1.0980 (10 Aug low) and 1.1000 (psychological round number mark, 11 Aug high). The upper resistance is at 1.1065 (August 10 high).
On the other hand, key support levels lie in the 1.0890–1.0900 area (15 Aug low, Bollinger Band bottom). A decisive break below the latter could send EUR towards 1.0875 (14 Aug low) and 1.0845 (23 Jun low) and 1.0830 (6 Jul low).
