20 Jul 2015
EUR/USD fade gains, returns to 1.0830
FXStreet (Edinburgh) - The shared currency has retraced the spike to session highs near 1.0870 vs. the greenback, with EUR/USD now deflating to the 1.0830 area.
EUR/USD focus on Greek banks
Absent releases in the euro area at the beginning of the week, the focus of attention today will be in Greece, where banks has re-opened to the public after three weeks of holidays, albeit with the capital controls still in place.
Data wise in the euro area, German Producer Prices have contracted 1.4% on a year to June. Next of relevance will be the Bundesbank’s monthly report.
EUR/USD levels to watch
At the moment the pair is up 0.05% at 1.0835 with the next resistance at 1.0866 (high Jul.20) followed by 1.1036 (high Jul.15) and then 1.1086 (high Jul.14). On the flip side, a breakdown of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24).
EUR/USD focus on Greek banks
Absent releases in the euro area at the beginning of the week, the focus of attention today will be in Greece, where banks has re-opened to the public after three weeks of holidays, albeit with the capital controls still in place.
Data wise in the euro area, German Producer Prices have contracted 1.4% on a year to June. Next of relevance will be the Bundesbank’s monthly report.
EUR/USD levels to watch
At the moment the pair is up 0.05% at 1.0835 with the next resistance at 1.0866 (high Jul.20) followed by 1.1036 (high Jul.15) and then 1.1086 (high Jul.14). On the flip side, a breakdown of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24).