8 Jul 2015
EUR/USD recovery falters ahead of 1.1100, FOMC minutes eyed
FXStreet (Córdoba) - EUR/USD stretched to fresh daily highs during the New York session as the euro benefitted from EUR/CHF demand, with investors speculating about Swiss National Bank intervention, ahead of the release of FOMC minutes.
EUR/USD has managed to climb nearly 180 pips from yesterday’s 1-month low and climbed back above the 100-day SMA to reach a peak of 1.1092. At time of writing, the pair is trading at 1.1065, recording a 0.51% gain on the day.
Attention now turns to FOMC minutes to be released at 18:00 GMT today. Investors will be looking for signs about the timing of the lift-off after last week’s disappointing nonfarm payrolls tempered expectations of a rate hike later this year.
EUR/USD technical levels
On the upside, immediate resistances are seen at 1.1100 (psychological level) and 1.1120 (Jul 2 high) ahead of 1.1170 (Jul 1 high). On the flip side, supports could be found at 1.1030 (100-day SMA), 1.1000 (psychological level) and 1.0915 (Jul 7 low).
EUR/USD has managed to climb nearly 180 pips from yesterday’s 1-month low and climbed back above the 100-day SMA to reach a peak of 1.1092. At time of writing, the pair is trading at 1.1065, recording a 0.51% gain on the day.
Attention now turns to FOMC minutes to be released at 18:00 GMT today. Investors will be looking for signs about the timing of the lift-off after last week’s disappointing nonfarm payrolls tempered expectations of a rate hike later this year.
EUR/USD technical levels
On the upside, immediate resistances are seen at 1.1100 (psychological level) and 1.1120 (Jul 2 high) ahead of 1.1170 (Jul 1 high). On the flip side, supports could be found at 1.1030 (100-day SMA), 1.1000 (psychological level) and 1.0915 (Jul 7 low).