13 Aug 2015
EUR/USD back to square one, focus on China and Greek bailout vote
FXStreet (Córdoba) - EUR/USD entered a consolidation phase during the American afternoon as investors digested US retail sales data and turn attention to China, to see what actions authorities will take after devaluing the yuan for three consecutive days.
EUR/USD staged a corrective move on Thursday after reaching a high of 1.1213 the previous day, with the dollar underpinned by retail sales figures, but the downside was contained by the 1.1080 zone. EUR/USD has managed to recover some ground over the last hours and it was last trading at 1.1145, virtually unchanged on the day.
Eurogroup to discuss Greek bailout after parliament vote
On the Greek front, the Eurogroup is due to examine the third bailout deal on Friday, following the vote in the Greek parliament which is expected later tonight.
Greek finance minister Euclid Tsakalotos urged the parliament to approve the agreement, while former minister Yanis Varoufakis claimed the deal was not viable.
EUR/USD levels to watch
In terms of technical levels, next supports are seen at 1.1079 (Aug 13 low), 1.1036 (100-day SMA) and 1.1000 (psychological level). On the flip side, resistances could be found at 1.1188 (Aug 13 high) and 1.1213 (Aug 12 high).
EUR/USD staged a corrective move on Thursday after reaching a high of 1.1213 the previous day, with the dollar underpinned by retail sales figures, but the downside was contained by the 1.1080 zone. EUR/USD has managed to recover some ground over the last hours and it was last trading at 1.1145, virtually unchanged on the day.
Eurogroup to discuss Greek bailout after parliament vote
On the Greek front, the Eurogroup is due to examine the third bailout deal on Friday, following the vote in the Greek parliament which is expected later tonight.
Greek finance minister Euclid Tsakalotos urged the parliament to approve the agreement, while former minister Yanis Varoufakis claimed the deal was not viable.
EUR/USD levels to watch
In terms of technical levels, next supports are seen at 1.1079 (Aug 13 low), 1.1036 (100-day SMA) and 1.1000 (psychological level). On the flip side, resistances could be found at 1.1188 (Aug 13 high) and 1.1213 (Aug 12 high).