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29 Jul 2015
EUR/USD fades the recovery, back to 1.1040
FXStreet (Edinburgh) - The bullish attempt to the area of 1.1070 seems to have run its course, with EUR/USD now deflating to the 1.1045/40 band once again.
EUR/USD a tad weaker pre-FOMC
Spot remains within the daily range so far, with gains capped by overnight tops near 1.1090 while the 1.1030 area continues to provide decent support for the time being.
The pair seems to have reacted adversely to the comments by Greek PM A.Tsipras, who hinted at the possibility of snap elections in case he cannot clinch majority in the parliament.
In the meantime, a cautious tone is emerging amongst traders in light of the FOMC meeting due in the European evening.
EUR/USD levels to watch
As of writing pair is down 0.22% at 1.1039 and a breach of 1.1030 (low Jul.29) would target 1.1022 (low Jul.28) en route to1.0969 (low Jul.27). On the upside, the next resistance aligns at 1.1085 (high Jul.29) followed by 1.1129 (high Jul.27) and then 1.1197 (high Jul.13).
EUR/USD a tad weaker pre-FOMC
Spot remains within the daily range so far, with gains capped by overnight tops near 1.1090 while the 1.1030 area continues to provide decent support for the time being.
The pair seems to have reacted adversely to the comments by Greek PM A.Tsipras, who hinted at the possibility of snap elections in case he cannot clinch majority in the parliament.
In the meantime, a cautious tone is emerging amongst traders in light of the FOMC meeting due in the European evening.
EUR/USD levels to watch
As of writing pair is down 0.22% at 1.1039 and a breach of 1.1030 (low Jul.29) would target 1.1022 (low Jul.28) en route to1.0969 (low Jul.27). On the upside, the next resistance aligns at 1.1085 (high Jul.29) followed by 1.1129 (high Jul.27) and then 1.1197 (high Jul.13).