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28 Jul 2015
EUR/USD in range around 1.1050
FXStreet (Edinburgh) - The shared currency has managed to leave session lows around 1.1020 vs. the dollar, with EUR/USD currently re-visiting the mid-1.10s.
EUR/USD focus on the FOMC
The pair seems to have found decent support for the current leg lower in the area of 1.1030/20 so far, trimming earlier losses following today’s disappointing Consumer Confidence in the US economy.
However, the resurgence of the buying interest around the greenback remains unchanged in light of the FOMC 2-day meeting, which kicks in today and ends with the usual statement tomorrow. Although opinions amongst traders remain pretty divided on the Committee’s tone, there seems to be a slight bias towards a USD-supportive wording.
EUR/USD levels to watch
As of writing pair is losing 0.25% at 1.1059 and a breakdown of 1.1022 (low Jul.28) would target 1.0969 (low Jul.27) en route to 1.0931 (low Jul.24). On the flip side, the next up barrier aligns at 1.1129 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10).
EUR/USD focus on the FOMC
The pair seems to have found decent support for the current leg lower in the area of 1.1030/20 so far, trimming earlier losses following today’s disappointing Consumer Confidence in the US economy.
However, the resurgence of the buying interest around the greenback remains unchanged in light of the FOMC 2-day meeting, which kicks in today and ends with the usual statement tomorrow. Although opinions amongst traders remain pretty divided on the Committee’s tone, there seems to be a slight bias towards a USD-supportive wording.
EUR/USD levels to watch
As of writing pair is losing 0.25% at 1.1059 and a breakdown of 1.1022 (low Jul.28) would target 1.0969 (low Jul.27) en route to 1.0931 (low Jul.24). On the flip side, the next up barrier aligns at 1.1129 (high Jul.27) ahead of 1.1197 (high Jul.13) and finally 1.1215 (high Jul.10).