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28 Jul 2015
EUR/USD weaker, drops to 1.1030
FXStreet (Edinburgh) - The daily decline in EUR/USD is picking up pace now, testing session lows in the 1.1030 area.
EUR/USD focus on Greece, US data
The pair is now markedly lower, hovering over daily troughs, as market participants remain focused on the negotiations between Greece and the EU institutions on the third bailout package. Furthermore, EU officials argued that a deal could be clinched by the second half of august. In the meantime, the Greek stock market could open tomorrow although it still needs the ECB consent.
Next on tap, the US docket will take centre stage: S&P/Case-Shiller index, Markit’s Services PMI and CB’s Consumer Confidence are due later.
EUR/USD levels to watch
As of writing pair is losing 0.48% at 1.1035 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 Greece, US data
The pair is now markedly lower, hovering over daily troughs, as market participants remain focused on the negotiations between Greece and the EU institutions on the third bailout package. Furthermore, EU officials argued that a deal could be clinched by the second half of august. In the meantime, the Greek stock market could open tomorrow although it still needs the ECB consent.
Next on tap, the US docket will take centre stage: S&P/Case-Shiller index, Markit’s Services PMI and CB’s Consumer Confidence are due later.
EUR/USD levels to watch
As of writing pair is losing 0.48% at 1.1035 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).