27 Jul 2015
EUR/USD struggles around 1.1100
FXStreet (Edinburgh) - The shared currency is now giving away part of the initial gains vs. the dollar, taking EUR/USD back to the 1.1100 neighbourhood.
EUR/USD attention to risk appetite, FOMC
The risk appetite trends will be the almost exclusive driver of the euro in the next couple of sessions, at least until the FOMC meeting due on Wednesday. Recall that market expectations remain biased towards a USD-supportive tone from the Committee, which could undermine the current upside momentum in spot in case it materializes.
Apart from the generalized weakness in the US dollar, the pair derived further support from the positive surprise in the German IFO indicator for the month of July and auspicious readings from EMU’s credit figures.
EUR/USD levels to watch
As of writing pair is up 1.05% at 1.1098 with the next hurdle at 1.1129 (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 attention to risk appetite, FOMC
The risk appetite trends will be the almost exclusive driver of the euro in the next couple of sessions, at least until the FOMC meeting due on Wednesday. Recall that market expectations remain biased towards a USD-supportive tone from the Committee, which could undermine the current upside momentum in spot in case it materializes.
Apart from the generalized weakness in the US dollar, the pair derived further support from the positive surprise in the German IFO indicator for the month of July and auspicious readings from EMU’s credit figures.
EUR/USD levels to watch
As of writing pair is up 1.05% at 1.1098 with the next hurdle at 1.1129 (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).