30 Jul 2015
EUR/USD treading water near 1.0900
FXStreet (Edinburgh) - The daily decline in EUR/USD seems to have found a decent support in the 1.0900 neighbourhood so far.
EUR/USD hurt by dollar strength
The USD-dynamics continue to be the exclusive driver behind the pair’s descent today, as auspicious results in the US docket gave further legs to the USD rally and added to the upbeat sentiment post-FOMC meeting.
Moving forwards to Friday’s docket, German retail sales will again give markets a gauge of the health in the domestic economy in early trade, while preliminary inflation figures in the EMU will take centre stage later.
EUR/USD levels to watch
As of writing pair is losing 0.64% at 1.0912 and a breakdown of 1.0869 (low Jul.22) would target 1.0811 (low Jul.21) en route to 1.0800 (psychological level). On the flip side, the next up barrier aligns at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27).
EUR/USD hurt by dollar strength
The USD-dynamics continue to be the exclusive driver behind the pair’s descent today, as auspicious results in the US docket gave further legs to the USD rally and added to the upbeat sentiment post-FOMC meeting.
Moving forwards to Friday’s docket, German retail sales will again give markets a gauge of the health in the domestic economy in early trade, while preliminary inflation figures in the EMU will take centre stage later.
EUR/USD levels to watch
As of writing pair is losing 0.64% at 1.0912 and a breakdown of 1.0869 (low Jul.22) would target 1.0811 (low Jul.21) en route to 1.0800 (psychological level). On the flip side, the next up barrier aligns at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27).