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20 Aug 2015
EUR/USD treading water around 1.1200
FXStreet (Edinburgh) - The single currency is clinging to today’s gains vs. the dollar, with EUR/USD gyrating around the 1.1200 key level.
EUR/USD advances on weaker USD
The upbeat tone in EUR remains well and sound in the second half of the week, with spot re-visiting levels beyond 1.1200 the figure, or 7-week highs, against a backdrop of a generalized selling pressure hitting the greenback.
Dovish FOMC minutes on Wednesday plus market expectations pushing back a Fed’s lift-off for later in the year continue to weigh on the dollar despite the auspicious releases from today’s Existing Home Sales and the Philly Fed survey.
EUR/USD levels to watch
As of writing the pair is up 0.73% at 1.1204 with the next resistance at 1.1221 (high Aug.20) followed by 1.1244 (high Jun.30) and finally 1.1278 (high Jun.29). On the flip side, a breach of 1.1114 (low Aug.20) would aim for 1.1017 (low Aug.18) and then 1.0961 (low Aug.11).
EUR/USD advances on weaker USD
The upbeat tone in EUR remains well and sound in the second half of the week, with spot re-visiting levels beyond 1.1200 the figure, or 7-week highs, against a backdrop of a generalized selling pressure hitting the greenback.
Dovish FOMC minutes on Wednesday plus market expectations pushing back a Fed’s lift-off for later in the year continue to weigh on the dollar despite the auspicious releases from today’s Existing Home Sales and the Philly Fed survey.
EUR/USD levels to watch
As of writing the pair is up 0.73% at 1.1204 with the next resistance at 1.1221 (high Aug.20) followed by 1.1244 (high Jun.30) and finally 1.1278 (high Jun.29). On the flip side, a breach of 1.1114 (low Aug.20) would aim for 1.1017 (low Aug.18) and then 1.0961 (low Aug.11).