7 Aug 2015
EUR/USD trims gains near 1.0930
FXStreet (Edinburgh) - EUR/USD has faded the spike to session highs in the 1.0950 area in early trade, now returning to the 1.0920/30 band.
EUR/USD attention to Payrolls
The pair has surrendered previous gains after sellers turned up around 1.0950 in quite a volatile context in spite of the vicinity of US Payrolls. Recall that market expectations gyrate around 220K during the month of July, while a positive surprise could send the pair to test the lower end of the wider range of 1.08-1.14.
In the data space, German trade balance surplus has widened during June despite the poor performance of exports and imports. Still in Germany, Industrial Production has unexpectedly contracted 1.4% on a monthly basis in June, missing expectations.
EUR/USD levels to consider
As of writing the pair is advancing 0.01% at 1.0926 with the immediate resistance at 1.0950 (high Aug.7) followed by 1.0990 (high Aug.4) ahead of 1.1080 (high Jul.29). On the other hand, a breakdown of 1.0873 (low Aug.6) would aim for 1.0848 (low Aug.5) and finally 1.0811 (low Jul.11).
EUR/USD attention to Payrolls
The pair has surrendered previous gains after sellers turned up around 1.0950 in quite a volatile context in spite of the vicinity of US Payrolls. Recall that market expectations gyrate around 220K during the month of July, while a positive surprise could send the pair to test the lower end of the wider range of 1.08-1.14.
In the data space, German trade balance surplus has widened during June despite the poor performance of exports and imports. Still in Germany, Industrial Production has unexpectedly contracted 1.4% on a monthly basis in June, missing expectations.
EUR/USD levels to consider
As of writing the pair is advancing 0.01% at 1.0926 with the immediate resistance at 1.0950 (high Aug.7) followed by 1.0990 (high Aug.4) ahead of 1.1080 (high Jul.29). On the other hand, a breakdown of 1.0873 (low Aug.6) would aim for 1.0848 (low Aug.5) and finally 1.0811 (low Jul.11).