27 Jul 2015
EUR/USD off highs, near 1.1060
FXStreet (Edinburgh) - After reaching 2-week tops near 1.1120, EUR/USD has now surrendered some gains and is now retreating to the 1.1065/60 band.
EUR/USD boosted by risk appetite
The risk-on sentiment is prevailing at the beginning of the week, lifting spot to levels beyond 1.1100 the figure and helped by the positive surprise from the German IFO during the current month, coming in higher that initially estimated. Further data in the euro area showed M3 Money Supply has expanded 5.1% in the three months ended in June while Private Loans rose 0.6% on a yearly basis during the same period.
The pair is advancing for the second consecutive week so far, although the ongoing upside momentum will be put to the test later in the week, in light of the key FOMC gathering due on Wednesday.
EUR/USD levels to watch
As of writing pair is up 0.76% at 1.1066 with the next hurdle at 1.1114 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10). On the downside, a breach of 1.0969 (low Jul.27) would open the door to 1.0931 (low Jul.24) and then 1.0892 (low Jul.22).
EUR/USD boosted by risk appetite
The risk-on sentiment is prevailing at the beginning of the week, lifting spot to levels beyond 1.1100 the figure and helped by the positive surprise from the German IFO during the current month, coming in higher that initially estimated. Further data in the euro area showed M3 Money Supply has expanded 5.1% in the three months ended in June while Private Loans rose 0.6% on a yearly basis during the same period.
The pair is advancing for the second consecutive week so far, although the ongoing upside momentum will be put to the test later in the week, in light of the key FOMC gathering due on Wednesday.
EUR/USD levels to watch
As of writing pair is up 0.76% at 1.1066 with the next hurdle at 1.1114 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10). On the downside, a breach of 1.0969 (low Jul.27) would open the door to 1.0931 (low Jul.24) and then 1.0892 (low Jul.22).