22 Jul 2015
EUR/USD weaker, challenges 1.0900
FXStreet (Edinburgh) - The shared currency is now accelerating its downside vs. the dollar, sending EUR/USD to briefly test sub-1.0900 levels ahead of US data.
EUR/USD softer on strong USD
USD-bulls have returned to the markets, pushing the greenback to session highs when measured by the USD Index and thus relegating spot to navigate the lower bound of the daily range.
The euro has extended yesterday’s auspicious recovery into the European morning today, although the upbeat momentum run out of vigour near 1.0970, falling since then to lows in the 1.0890/95 band.
In the meantime, traders keep waiting for the outcome of the Greek Parliament due at some point during the evening, ahead of Existing Home Sales (5.4M exp.) due across the pond later.
EUR/USD levels to watch
At the moment the pair is retreating 0.25% at 1.0906 with the next support at 1.0892 (low Jul.22) ahead of 1.0812 (low Jul.21) and finally 1.0789 (low Apr.25). On the flip side, a break above1.0968 (high Jul.22) would target 1.1036 (high Jul.15) en route to 1.1086 (high Jul.14).
EUR/USD softer on strong USD
USD-bulls have returned to the markets, pushing the greenback to session highs when measured by the USD Index and thus relegating spot to navigate the lower bound of the daily range.
The euro has extended yesterday’s auspicious recovery into the European morning today, although the upbeat momentum run out of vigour near 1.0970, falling since then to lows in the 1.0890/95 band.
In the meantime, traders keep waiting for the outcome of the Greek Parliament due at some point during the evening, ahead of Existing Home Sales (5.4M exp.) due across the pond later.
EUR/USD levels to watch
At the moment the pair is retreating 0.25% at 1.0906 with the next support at 1.0892 (low Jul.22) ahead of 1.0812 (low Jul.21) and finally 1.0789 (low Apr.25). On the flip side, a break above1.0968 (high Jul.22) would target 1.1036 (high Jul.15) en route to 1.1086 (high Jul.14).