10 Aug 2015
EUR/USD challenges highs near 1.0980
FXStreet (Edinburgh) - The common currency is now attempting to print fresh daily highs vs. the dollar, taking EUR/USD to the area of 1.0980.
EUR/USD still capped by 1.1000
Despite Friday’s strong recovery, the area around the psychological handle at 1.1000 still remains elusive for EUR-bulls, as the lack of releases and events in the euro bloc encourages investors to maintain the current sideline pattern.
In the meantime, the broader 1.08-1.14 range is poised to prevail for the time being, while markets expect a stronger catalyst to break the pattern either way. The risks, however, remain tilted to the downside in light of the likeliness of a Fed’s lift-off in September.
EUR/USD relevant levels
As of writing the pair is advancing 0.05% at 1.0971 facing the next up barrier at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29). On the other hand, a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11).
EUR/USD still capped by 1.1000
Despite Friday’s strong recovery, the area around the psychological handle at 1.1000 still remains elusive for EUR-bulls, as the lack of releases and events in the euro bloc encourages investors to maintain the current sideline pattern.
In the meantime, the broader 1.08-1.14 range is poised to prevail for the time being, while markets expect a stronger catalyst to break the pattern either way. The risks, however, remain tilted to the downside in light of the likeliness of a Fed’s lift-off in September.
EUR/USD relevant levels
As of writing the pair is advancing 0.05% at 1.0971 facing the next up barrier at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29). On the other hand, a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11).