20 Jul 2015
EUR/USD deflates towards 1.0830
FXStreet (Edinburgh) - After a quick test of the 1.0860 level, the recovery in EUR/USD has lost momentum and is now returning to the 1.0835/30 band.
EUR/USD volatile, capped by 1.0870
The pair is having quite a volatile session today despite the lack of releases on both sides of the Atlantic, navigating within 1.0830 and 1.0870. No news from Greece seems to be good news for the euro so far, with the most relevant news so far being that the country has managed to repay the ECB, the IMF and the Bank of Greece, all worth roughly €7 billion.
It will be a quiet first half of the week in the data space, with US Existing Home Sales and Markit’s Services PMI due on Wednesday, whereas the preliminary manufacturing and services PMIs in Euroland are expected on Friday.
EUR/USD levels to watch
At the moment the pair is up 0.02% at 1.0832 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 volatile, capped by 1.0870
The pair is having quite a volatile session today despite the lack of releases on both sides of the Atlantic, navigating within 1.0830 and 1.0870. No news from Greece seems to be good news for the euro so far, with the most relevant news so far being that the country has managed to repay the ECB, the IMF and the Bank of Greece, all worth roughly €7 billion.
It will be a quiet first half of the week in the data space, with US Existing Home Sales and Markit’s Services PMI due on Wednesday, whereas the preliminary manufacturing and services PMIs in Euroland are expected on Friday.
EUR/USD levels to watch
At the moment the pair is up 0.02% at 1.0832 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).