8 Jul 2015
EUR/USD within range, around 1.1030
FXStreet (Edinburgh) - The European currency keeps the upbeat tone against the greenback on Wednesday, with EUR/USD rebounding from 1.1000 to the current 1.1030 area.
EUR/USD attention to FOMC
The pair keeps the daily range today against a backdrop of a generalized offered tone in the US dollar, which is giving away part of recent strong gains. Greece remains in the centre of the debate, with market participants expecting PM A.Tsipras to submit fresh proposals in light of the new EU Leaders Summit to be held on Sunday.
The recent upside in the dollar will be tested further today, as the FOMC will publish its minutes of the June meeting. Consensus remains pretty divided on the potential tone of the minutes, while market expectations for the Fed’s lift off now look to December as the most probable candidate.
EUR/USD levels to consider
The pair is now advancing 0.22% at 1.1035 and a breakout of 1.1059 (high Jul.7) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24). On the downside, the immediate support aligns at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level).
EUR/USD attention to FOMC
The pair keeps the daily range today against a backdrop of a generalized offered tone in the US dollar, which is giving away part of recent strong gains. Greece remains in the centre of the debate, with market participants expecting PM A.Tsipras to submit fresh proposals in light of the new EU Leaders Summit to be held on Sunday.
The recent upside in the dollar will be tested further today, as the FOMC will publish its minutes of the June meeting. Consensus remains pretty divided on the potential tone of the minutes, while market expectations for the Fed’s lift off now look to December as the most probable candidate.
EUR/USD levels to consider
The pair is now advancing 0.22% at 1.1035 and a breakout of 1.1059 (high Jul.7) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24). On the downside, the immediate support aligns at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level).