22 Jul 2015
EUR/USD back in red near 1.0920
FXStreet (Mumbai) - The shared currency trades brushed off gains and fell back in to the negative territory versus the US dollar in the mid-European session, sending EUR/USD to fresh session lows closer to 1.09 handle. The major is struggling so far while USD bulls jumping back into the game adds to the downside pressure on the euro as markets await Greek vote and US data due later in the US session.
EUR/USD pressured by falling EUR/GBP
The EUR/USD pair trades -0.10% at 1.0925, recovering from 1.0916 lows reached some minutes ago. The major edged lower tracking weakness seen in the EUR/GBP cross following the release of the Bank of England (BOE) July monetary policy minutes which boosted the pound across the board.
Moreover, a rebound seen in the US dollar against its major competitors, reversing previous 1% drop, also added to the losses in the EUR/USD pair. The US dollar index, a virtual gauge of greenback’s strength, trades at 97.53, recording a 0.12% gain on the day.
Meanwhile, markets shift their focus towards today’s Greek vote on the second bailout deal offered by its creditors. While existing home sales are also due in the US later tonight.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0966 (Today’s High) levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0854 (July 16 Low) below which it could extend losses to 1.0826 (July 17 Low) levels.
EUR/USD pressured by falling EUR/GBP
The EUR/USD pair trades -0.10% at 1.0925, recovering from 1.0916 lows reached some minutes ago. The major edged lower tracking weakness seen in the EUR/GBP cross following the release of the Bank of England (BOE) July monetary policy minutes which boosted the pound across the board.
Moreover, a rebound seen in the US dollar against its major competitors, reversing previous 1% drop, also added to the losses in the EUR/USD pair. The US dollar index, a virtual gauge of greenback’s strength, trades at 97.53, recording a 0.12% gain on the day.
Meanwhile, markets shift their focus towards today’s Greek vote on the second bailout deal offered by its creditors. While existing home sales are also due in the US later tonight.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0966 (Today’s High) levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0854 (July 16 Low) below which it could extend losses to 1.0826 (July 17 Low) levels.