23 Jul 2015
EUR/USD trades at 1-week highs near 1.1000
FXStreet (Córdoba) - The euro rose sharply on Thursday and briefly climbed above the 1.1000 level against the dollar, although there was no clear catalyst for the move.
EUR/USD surpassed the 100-day SMA and reached a 1-week high of 1.1004 before finding resistance. The advance was helped by positive sentiment after the Greek Parliament approved new reform measures that remove the last hurdle to the negotiations of a third bailout package, while a softer USD contributed to the rally.
At time of writing, EUR/USD is trading at 1.0995, recording a 0.62% gain on the day and having reversed part of last week’s decline.
On the data front, traders will focus on US jobless claims (280K exp.) and Eurozone consumer confidence for July (-5.68 exp.).
EUR/USD levels to watch
As for technical levels, EUR/USD could find next resistances at 1.1004 (Jul 23 high), 1.1035 (Jul 15 high) and 1.1082 (Jul 14 high). On the other hand, supports are seen at 1.0921 (Jul 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low).
EUR/USD surpassed the 100-day SMA and reached a 1-week high of 1.1004 before finding resistance. The advance was helped by positive sentiment after the Greek Parliament approved new reform measures that remove the last hurdle to the negotiations of a third bailout package, while a softer USD contributed to the rally.
At time of writing, EUR/USD is trading at 1.0995, recording a 0.62% gain on the day and having reversed part of last week’s decline.
On the data front, traders will focus on US jobless claims (280K exp.) and Eurozone consumer confidence for July (-5.68 exp.).
EUR/USD levels to watch
As for technical levels, EUR/USD could find next resistances at 1.1004 (Jul 23 high), 1.1035 (Jul 15 high) and 1.1082 (Jul 14 high). On the other hand, supports are seen at 1.0921 (Jul 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low).