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17 Jul 2015
EUR/USD stuck below 1.0900, Bundestag eyed
FXStreet (Mumbai) - The European currency keeps the bid tone intact versus its American in the European morning, albeit EUR/USD struggles to regain 1.09 handle, amid lack of fundamentals to have major impact on the pair. While markets now look forward to the Bundestag vote on Greece deal and the key US macro releases due later tonight.
EUR/USD rejected at 1.0907
The EUR/USD pair trades 0.12% higher at 1.0890, retracing from 1.0907 highs reached last hours. The major held on to its gains as the shared currency was underpinned on hopes of a successful German Parliament vote on the Greece bailout reforms.
Moreover, the pair kept green also as the US dollar stalled its recent upsurge and turned in to the negative territory against its major rivals this morning, boosting EUR/USD.
Meanwhile, the euro was unperturbed post the release of latest ECB quarterly report which revealed that the ECB have raised 2016 GDP forecasts, while revising inflation forecasts for 2015 and 2016 higher.
Markets now shift their focus towards US CPI, building permits and consumer sentiment data to be reported in the NA session for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0963 (July 16 High) levels, above which gains could be extended to 1.0991 (June 1 High) levels. On the flip side, support is seen at 1.0854 (July 16 Low) below which it could extend losses to 1.0818 (May 27 Low) levels.
EUR/USD rejected at 1.0907
The EUR/USD pair trades 0.12% higher at 1.0890, retracing from 1.0907 highs reached last hours. The major held on to its gains as the shared currency was underpinned on hopes of a successful German Parliament vote on the Greece bailout reforms.
Moreover, the pair kept green also as the US dollar stalled its recent upsurge and turned in to the negative territory against its major rivals this morning, boosting EUR/USD.
Meanwhile, the euro was unperturbed post the release of latest ECB quarterly report which revealed that the ECB have raised 2016 GDP forecasts, while revising inflation forecasts for 2015 and 2016 higher.
Markets now shift their focus towards US CPI, building permits and consumer sentiment data to be reported in the NA session for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0963 (July 16 High) levels, above which gains could be extended to 1.0991 (June 1 High) levels. On the flip side, support is seen at 1.0854 (July 16 Low) below which it could extend losses to 1.0818 (May 27 Low) levels.