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17 Jul 2015
EUR/USD sidelines near 1.09, focus on German vote
FXStreet (Edinburgh) - The European currency keeps its gains vs. the US dollar at the end of the week, with EUR/USD in a consolidative pattern around 1.0900 the figure.
EUR/USD attention to German Parliament
The pair has regained some of the ground lost on Thursday’s deep pullback to the mid-1.0800s, although sustained gains above the 1.0900 handle seems limited so far.
Spot has been retreating since last week’s peaks in the 1.1200 neighborhood, following the Greece-EU deal and amidst a generalized pick-up in the US dollar.
Ahead in the day, the Bundestag vote on the Greek bailout (undergoing at the moment) will be the main event in Euroland, while US inflation figures and the Reuters/Michigan index are also due in the US economy.
EUR/USD levels to watch
At the moment the pair is up 0.10% at 1.0886 with the next hurdle at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13). On the downside, a breach of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24).
EUR/USD attention to German Parliament
The pair has regained some of the ground lost on Thursday’s deep pullback to the mid-1.0800s, although sustained gains above the 1.0900 handle seems limited so far.
Spot has been retreating since last week’s peaks in the 1.1200 neighborhood, following the Greece-EU deal and amidst a generalized pick-up in the US dollar.
Ahead in the day, the Bundestag vote on the Greek bailout (undergoing at the moment) will be the main event in Euroland, while US inflation figures and the Reuters/Michigan index are also due in the US economy.
EUR/USD levels to watch
At the moment the pair is up 0.10% at 1.0886 with the next hurdle at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13). On the downside, a breach of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24).