4 Aug 2015
EUR/USD returns to 1.0950
FXStreet (Edinburgh) - The single currency has so far surrendered part of initial gains vs. the dollar, prompting EUR/USD to return to the comfort zone in the mid-1.0900s.
EUR/USD capped by 1.0990
The pair’s initial upside has been propped up by a persistent risk-on sentiment, which has kicked in during the Asian trading hours and has not given up despite the ‘in-line’ print from US Factory Orders during June. Spot, however, found the upper-1.09s as a tough resistance so far, where a more solid catalyst maybe needed to surpass it.
Moving forward to Wednesday’s calendar, market participants will closely follow the release of the Chinese Services PMI gauged by Caixin, specially in light of the recent disappointment in the manufacturing gauge. Later on in Euroland, Markit’s Services PMI and EMU’s Retail Sales will take centre stage ahead of US ADP report.
EUR/USD key levels
As of writing the pair is advancing 0.01% at 1.0952 facing the next resistance at 1.0990 (high Aug.3) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31). On the flip side, a break below 1.0921 (low Jul.31) would target 1.0893 (low Jul.30) en route to 1.0811 (low Jul.11).
EUR/USD capped by 1.0990
The pair’s initial upside has been propped up by a persistent risk-on sentiment, which has kicked in during the Asian trading hours and has not given up despite the ‘in-line’ print from US Factory Orders during June. Spot, however, found the upper-1.09s as a tough resistance so far, where a more solid catalyst maybe needed to surpass it.
Moving forward to Wednesday’s calendar, market participants will closely follow the release of the Chinese Services PMI gauged by Caixin, specially in light of the recent disappointment in the manufacturing gauge. Later on in Euroland, Markit’s Services PMI and EMU’s Retail Sales will take centre stage ahead of US ADP report.
EUR/USD key levels
As of writing the pair is advancing 0.01% at 1.0952 facing the next resistance at 1.0990 (high Aug.3) followed by 1.1080 (high Jul.29) and then 1.1113 (high Jul.31). On the flip side, a break below 1.0921 (low Jul.31) would target 1.0893 (low Jul.30) en route to 1.0811 (low Jul.11).