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9 Jul 2015
EUR/USD breaches 1.1000
FXStreet (Edinburgh) - The offered tone around the EUR is now growing bigger, pushing EUR/USD to briefly test sub-1.1000 levels.
EUR/USD still waiting for Tsipras
While markets keep waiting for the new set of proposals to be presented by Greek PM A.Tsipras today, the pair has slipped below the psychological support at 1.1000 in response to further strength in the US dollar.
Furthermore, in his speech today Fed’s Evans sees the US economy growing at 2% during 2015 and 2.75% in the next year, while consumer prices could remain below the 2% target through 2017. In addition KC Fed Chief E.George has advocated for a modest rate hikes ‘now’, stating that a later hike could boost risks and limit future policy choices.
EUR/USD levels to consider
The pair is now dropping 0.74% at 1.0993 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
EUR/USD still waiting for Tsipras
While markets keep waiting for the new set of proposals to be presented by Greek PM A.Tsipras today, the pair has slipped below the psychological support at 1.1000 in response to further strength in the US dollar.
Furthermore, in his speech today Fed’s Evans sees the US economy growing at 2% during 2015 and 2.75% in the next year, while consumer prices could remain below the 2% target through 2017. In addition KC Fed Chief E.George has advocated for a modest rate hikes ‘now’, stating that a later hike could boost risks and limit future policy choices.
EUR/USD levels to consider
The pair is now dropping 0.74% at 1.0993 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).