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28 Jul 2015
EUR/USD unmotivated around 1.1060
FXStreet (Edinburgh) - The single currency remains apathetic on Tuesday, now taking EUR/USD to a consolidative pattern around 1.1070/60.
EUR/USD focus on US data
Spot is coming down from overnight peaks around the 1.1100 neighbourhood, deflating from the previous session’s tops near 1.1120. The euro has surrendered initial gains amidst thin trade and scarce volatility while a cautious tone amongst market participants is growing bigger in light of the FOMC meeting on Wednesday.
In the meantime, and back to the Greek front, negotiations oriented to a third bailout package between the ‘Troika’ and the government are set to commence today.
In the data space, housing prices tracked by the S&P/Case-Shiller Index, Markit’s Services PMI and CB’s Consumer Confidence are all due across the pond.
EUR/USD levels to watch
As of writing pair is losing 0.0824 at 1.1060 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 focus on US data
Spot is coming down from overnight peaks around the 1.1100 neighbourhood, deflating from the previous session’s tops near 1.1120. The euro has surrendered initial gains amidst thin trade and scarce volatility while a cautious tone amongst market participants is growing bigger in light of the FOMC meeting on Wednesday.
In the meantime, and back to the Greek front, negotiations oriented to a third bailout package between the ‘Troika’ and the government are set to commence today.
In the data space, housing prices tracked by the S&P/Case-Shiller Index, Markit’s Services PMI and CB’s Consumer Confidence are all due across the pond.
EUR/USD levels to watch
As of writing pair is losing 0.0824 at 1.1060 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).