8 Jul 2015
EUR/USD climbs to highs near 1.1080
FXStreet (Edinburgh) - The buying interest is now picking up pace around the euro, lifting EUR/USD to fresh daily highs near 1.1080.
EUR/USD in 2-day tops
The pair is now advancing further boosted by markets rumours of FX intervention by the SNB via EUR/CHF, although SNB authorities have so far declined to make any comment.
In the meantime, market participants continue to wait for the FOMC minutes due later, while the situation in Greece remains fragile following the extension of the bank holiday through Friday. Recall that PM A.Tsipras must submit a more coherent set of proposals to the EU institutions by Friday.
EUR/USD levels to consider
The pair is now advancing 0.40% at 1.1055 and a breakout of 1.1074 (high Jul.8) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24). On the downside, the immediate support aligns at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level).
EUR/USD in 2-day tops
The pair is now advancing further boosted by markets rumours of FX intervention by the SNB via EUR/CHF, although SNB authorities have so far declined to make any comment.
In the meantime, market participants continue to wait for the FOMC minutes due later, while the situation in Greece remains fragile following the extension of the bank holiday through Friday. Recall that PM A.Tsipras must submit a more coherent set of proposals to the EU institutions by Friday.
EUR/USD levels to consider
The pair is now advancing 0.40% at 1.1055 and a breakout of 1.1074 (high Jul.8) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24). On the downside, the immediate support aligns at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level).