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16 Jul 2015
EUR/USD wobbles around 1.0900
FXStreet (Edinburgh) - The shared currency remains entrenched in the negative ground on Thursday, now sending EUR/USD to challenge the key 1.0900 support.
EUR/USD muted post-EMU releases
The pair posted little, if any, reaction to the final inflation figures in the euro area for the month of June, with headline consumer prices rising at an annual pace of 0.2% and core CPI up 0.8% on a yearly basis, both prints matching the preliminary readings. Further data showed the trade surplus shrunk to a seasonally adjusted €21.2 billion during May, down from €24.3 billion.
Ahead in the session, the euro could see its decline intensified as the ECB is expected to strike a dovish tone today, while Greece is poised to take centre stage in Draghi’s presser.
EUR/USD levels to watch
At the moment the pair is retreating 0.34% at 1.0912 and a breach of 1.0887 (low Jun.1) would expose 1.0819 (low May 27) and finally 1.0789 (low Apr.25). 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 muted post-EMU releases
The pair posted little, if any, reaction to the final inflation figures in the euro area for the month of June, with headline consumer prices rising at an annual pace of 0.2% and core CPI up 0.8% on a yearly basis, both prints matching the preliminary readings. Further data showed the trade surplus shrunk to a seasonally adjusted €21.2 billion during May, down from €24.3 billion.
Ahead in the session, the euro could see its decline intensified as the ECB is expected to strike a dovish tone today, while Greece is poised to take centre stage in Draghi’s presser.
EUR/USD levels to watch
At the moment the pair is retreating 0.34% at 1.0912 and a breach of 1.0887 (low Jun.1) would expose 1.0819 (low May 27) and finally 1.0789 (low Apr.25). 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).