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28 Jul 2015
EUR/USD attempts a rebound from 1.1020
FXStreet (Edinburgh) - After bottoming out in session lows in the 1.1020 area, EUR/USD is now gathering pace towards the 1.1035/40 band.
EUR/USD weaker pre-US data
The pair remains entrenched in the negative territory on Tuesday in response to renewed buying interest around the US dollar. Spot is thus fading yesterday’s spike to fresh 2-week tops in the 1.1120 region amidst empty docket in Euroland and ahead of key releases in the US economy: CB’s Consumer Confidence, Markit’s Service PMI and the S&P-Case-Shiller index.
Ahead in the week, the recent upside momentum in the euro will be put to the test in light of tomorrow’s FOMC meeting. Despite there won’t be a press conference or economic projections, prior surveys expect the Committee’s statement to be supportive of the greenback.
EUR/USD levels to watch
As of writing pair is losing 0.52% at 1.1029 and 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). On the flip side, the immediate hurdle lines up at 1.1129 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10).
EUR/USD weaker pre-US data
The pair remains entrenched in the negative territory on Tuesday in response to renewed buying interest around the US dollar. Spot is thus fading yesterday’s spike to fresh 2-week tops in the 1.1120 region amidst empty docket in Euroland and ahead of key releases in the US economy: CB’s Consumer Confidence, Markit’s Service PMI and the S&P-Case-Shiller index.
Ahead in the week, the recent upside momentum in the euro will be put to the test in light of tomorrow’s FOMC meeting. Despite there won’t be a press conference or economic projections, prior surveys expect the Committee’s statement to be supportive of the greenback.
EUR/USD levels to watch
As of writing pair is losing 0.52% at 1.1029 and 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). On the flip side, the immediate hurdle lines up at 1.1129 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10).