21 Jul 2015
EUR/USD regains 1.0900 as dollar weakens
FXStreet (Córdoba) - The dollar took a hit and fell versus major competitors at the beginning of the American session amid profit taking and following Fed’s revision lower of already weak industrial production and capacity utilization numbers.
EUR/USD picked up momentum and extended its recovery beyond the 1.0900 level to hit a fresh daily peak of 1.0918 in recent dealings. At time of writing, EUR/USD is trading at 1.0910, recording a 0.80% gain on the day and roughly 100 pips above its European session low of 1.0811.
With Greece’s news flow calmer and a light economic calendar, there is little in the way of fundamental news to drive price action in the FX market.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find next resistances at 1.0965 (10-day SMA) and 1.1000 (psychological level/100-day SMA). On the other hand, supports are seen at 1.0811/08 (Jul 21 & 20 lows) and 1.0800 (psychological level) ahead of 1.0784 (Apr 24 low).
EUR/USD picked up momentum and extended its recovery beyond the 1.0900 level to hit a fresh daily peak of 1.0918 in recent dealings. At time of writing, EUR/USD is trading at 1.0910, recording a 0.80% gain on the day and roughly 100 pips above its European session low of 1.0811.
With Greece’s news flow calmer and a light economic calendar, there is little in the way of fundamental news to drive price action in the FX market.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find next resistances at 1.0965 (10-day SMA) and 1.1000 (psychological level/100-day SMA). On the other hand, supports are seen at 1.0811/08 (Jul 21 & 20 lows) and 1.0800 (psychological level) ahead of 1.0784 (Apr 24 low).