15 Jul 2015
EUR/USD jumps to a session high of 1.1033
FXStreet (Mumbai) - The EUR/USD pair rose to a fresh session high of 1.1033 after having managed to sustain above 1.0993 (50% Fib R of Apr-May rally).
Trades above hourly 50-MA
The spot now trades well above the hourly 50-MA currently located at 1.1017. The pair had failed to take out the same earlier today. The investors remain focused on Greek parliament vote on the recent bailout package. However, the results are scheduled to come out after NY closing. Consequently, the pair is likely to see muted trading throughout the European session.
Prior to Greek parliament vote, Chair Yellen’s comments at her Semi-Annual Testimony at Capitol Hill are expected to hit the wires in the early US session. Yellen is widely expected to reiterate the possibility of rate hikes this year, which could weigh over the EUR/USD pair ahead of the Greek parliament vote.
EUR/USD Technical Levels
The spot currently trades around 1.1025. The immediate resistance is located at 1.1051 (hourly 200-MA) and 1.1059 (hourly 100-MA), above which the spot could target 1.1083 (38.2% Fib R of Mar-May rally). On the other hand, support is seen at 1.0933 (50% Fib of Apr-May rally), under which the pair could fall back to 1.0955.
Trades above hourly 50-MA
The spot now trades well above the hourly 50-MA currently located at 1.1017. The pair had failed to take out the same earlier today. The investors remain focused on Greek parliament vote on the recent bailout package. However, the results are scheduled to come out after NY closing. Consequently, the pair is likely to see muted trading throughout the European session.
Prior to Greek parliament vote, Chair Yellen’s comments at her Semi-Annual Testimony at Capitol Hill are expected to hit the wires in the early US session. Yellen is widely expected to reiterate the possibility of rate hikes this year, which could weigh over the EUR/USD pair ahead of the Greek parliament vote.
EUR/USD Technical Levels
The spot currently trades around 1.1025. The immediate resistance is located at 1.1051 (hourly 200-MA) and 1.1059 (hourly 100-MA), above which the spot could target 1.1083 (38.2% Fib R of Mar-May rally). On the other hand, support is seen at 1.0933 (50% Fib of Apr-May rally), under which the pair could fall back to 1.0955.