22 Jul 2015
EUR/USD keeps the red below 1.0900
FXStreet (Edinburgh) - The common currency remains entrenched in the negative territory on Wednesday, with EUR/USD looking to stabilize in the 1.0890 area.
EUR/USD lower, dollar bid
The greenback is prolonging its march north today, hurting the risk-associated assets and prompting spot to surrender yesterday’s gains and return to the sub-1.0900 area.
Absent releases and events in Euroland, better-than-expected results from US Existing Home Sales have given extra legs to the USD rally, while traders remain vigilant on any development coming from the Greek Parliament, where MPs will vote on the second package of economic reforms. In addition, the European Central Bank has raised the ELA ceiling to Greek banks by €900 million.
EUR/USD levels to watch
At the moment the pair is retreating 0.44% at 1.0885 with the next support at 1.0869 (low Jul.22) ahead of 1.0812 (low Jul.21) and finally 1.0789 (low Apr.25). On the flip side, a break above1.0968 (high Jul.22) would target 1.1036 (high Jul.15) en route to 1.1086 (high Jul.14).
EUR/USD lower, dollar bid
The greenback is prolonging its march north today, hurting the risk-associated assets and prompting spot to surrender yesterday’s gains and return to the sub-1.0900 area.
Absent releases and events in Euroland, better-than-expected results from US Existing Home Sales have given extra legs to the USD rally, while traders remain vigilant on any development coming from the Greek Parliament, where MPs will vote on the second package of economic reforms. In addition, the European Central Bank has raised the ELA ceiling to Greek banks by €900 million.
EUR/USD levels to watch
At the moment the pair is retreating 0.44% at 1.0885 with the next support at 1.0869 (low Jul.22) ahead of 1.0812 (low Jul.21) and finally 1.0789 (low Apr.25). On the flip side, a break above1.0968 (high Jul.22) would target 1.1036 (high Jul.15) en route to 1.1086 (high Jul.14).