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16 Jul 2015
EUR/USD regains 1.0900 and beyond
FXStreet (Edinburgh) - The common currency is now bouncing off multi-week lows vs. the greenback, with EUR/USD retaking the 1.0900 handle.
EUR/USD rebounds from 1.0860
After bottoming out around 1.0860, renewed buying interest has lifted spot back above the 1.0900 mark following news that a €7 billion bridge loan has been approved for Greece. It is worth noting that Greece will have to repay the ECB €3.5 billion on Monday.
The euro is markedly lower across the board after President Draghi has delivered a neutral tone in today’s press conference and the ECB has left intact its monetary policy once again.
Further releases in the US economy have seen the Philly Fed Manufacturing Survey missing expectations at 5.7 for the month of July vs. 12.0 anticipated and the Housing Market Index tracked by NAHB ticking higher to 60 for the current month.
EUR/USD levels to watch
At the moment the pair is retreating 0.24% at 1.0924 and a breach of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24). On the other hand, the initial up barrier aligns at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13).
EUR/USD rebounds from 1.0860
After bottoming out around 1.0860, renewed buying interest has lifted spot back above the 1.0900 mark following news that a €7 billion bridge loan has been approved for Greece. It is worth noting that Greece will have to repay the ECB €3.5 billion on Monday.
The euro is markedly lower across the board after President Draghi has delivered a neutral tone in today’s press conference and the ECB has left intact its monetary policy once again.
Further releases in the US economy have seen the Philly Fed Manufacturing Survey missing expectations at 5.7 for the month of July vs. 12.0 anticipated and the Housing Market Index tracked by NAHB ticking higher to 60 for the current month.
EUR/USD levels to watch
At the moment the pair is retreating 0.24% at 1.0924 and a breach of 1.0819 (low May 27) would target 1.0789 (low Apr.25) en route to 1.0666 (low Apr.24). On the other hand, the initial up barrier aligns at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13).