EUR/USD keeps lows near 1.1020

FXStreet (Edinburgh) - The selling mood remains intact around the single currency on Tuesday, with EUR/USD navigating session troughs in the low-1.1000s.

EUR/USD cautious ahead of FOMC minutes

The pair has fully faded the earlier spike to the boundaries of 1.1100 the figure, in a context where the demand for the US dollar persists ahead of tomorrow’s FOMC minutes.

Auspicious releases in the US housing sector for the month of July – including a multi-year high in Housing Starts – have given extra oxygen to the greenback and relegated spot to trade in the lower bound of the daily range.

EUR/USD levels to watch

As of writing the pair is retreating 0.41% at 1.1032 and a breakdown of 1.1017 (low Aug.18) would aim for 1.0961 (low Aug.11) and finally 1.0925 (low Aug.10). On the upside, the initial hurdle aligns at 1.1095 (high Aug.18) followed by 1.1190 (high Aug.13) and finally 1.1215 (high Aug.12).

Spanish and Austrian Parliaments approve Greek bailout package

Following Eurozone finance ministers approval of the third Greek bailout on Friday, each member should give national approval. In at least in five countries, the approval requires some level of parliamentary involvement. Those are Austria, Germany, Finland, Estonia and Portugal.
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ECB cuts ELA ceiling for Greek banks

The European Central Bank has reduced the ceiling of emergency liquidity assistance (ELA) available for Greek banks to €89.7 billion as requested by the Bank of Greece, Reuters reports.
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