23 Jul 2015
EUR/USD back to the 1.0980 area
FXStreet (Edinburgh) - After climbing as high as the vicinity of 1.1020, EUR/USD has now scaled back part of those gains and is now trading in the 1.0980 region.
EUR/USD bypasses US data
The pair has managed to keep the composure following the very auspicious results from the US docket today, with Initial Claims posting 4-decade lows and CB’s Leading Index surprising to the upside. Nonetheless, the sentiment around EUR remains well tilted to the upside despite the current knee jerk to sub-1.10 levels.
Looking to tomorrow’s docket, the preliminary manufacturing and services PMIs will take centre stage in Euroland, while New Home Sales and the flash Markit’s manufacturing PMI will be the highlights across the Atlantic.
EUR/USD levels to watch
At the moment the pair is up 0.44% at 1.0977 with the next hurdle at 1.1019 (high Jul.23) ahead of 1.1036 (high Jul.15) and finally 1.1086 (high Jul.14). On the flip side, a breakdown of 1.0892 (low Jul.22) would aim for 1.0812 (low Jul.21) and then 1.0789 (low Apr.25).
EUR/USD bypasses US data
The pair has managed to keep the composure following the very auspicious results from the US docket today, with Initial Claims posting 4-decade lows and CB’s Leading Index surprising to the upside. Nonetheless, the sentiment around EUR remains well tilted to the upside despite the current knee jerk to sub-1.10 levels.
Looking to tomorrow’s docket, the preliminary manufacturing and services PMIs will take centre stage in Euroland, while New Home Sales and the flash Markit’s manufacturing PMI will be the highlights across the Atlantic.
EUR/USD levels to watch
At the moment the pair is up 0.44% at 1.0977 with the next hurdle at 1.1019 (high Jul.23) ahead of 1.1036 (high Jul.15) and finally 1.1086 (high Jul.14). On the flip side, a breakdown of 1.0892 (low Jul.22) would aim for 1.0812 (low Jul.21) and then 1.0789 (low Apr.25).