31 Jul 2015
EUR/USD pushes higher, 1.0980 on sight
FXStreet (Edinburgh) - The European currency is now appreciating further vs. the greenback, lifting EUR/USD to fresh daily highs in the vicinity of 1.0980.
EUR/USD attention to US data
The pair is regaining some of the recent ground lost, after the FOMC meeting and decent US GDP figures have boosted the demand for the US dollar. Higher-than-expected consumer prices in the euro area during July have lent support to the euro, collaborating with the pair’s upside at the same time.
Data wise in the US calendar, Employment Cost Index (ECI) is due ahead of the final print of the Reuters/Michigan index for the current month.
EUR/USD key levels
At the moment the pair is up 0.40% at 1.0976 with the next resistance at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27). On the downside, a breach of 1.0920 (low Jul.31) would aim for 1.0869 (low Jul.22) en route to 1.0811 (low Jul.21).
EUR/USD attention to US data
The pair is regaining some of the recent ground lost, after the FOMC meeting and decent US GDP figures have boosted the demand for the US dollar. Higher-than-expected consumer prices in the euro area during July have lent support to the euro, collaborating with the pair’s upside at the same time.
Data wise in the US calendar, Employment Cost Index (ECI) is due ahead of the final print of the Reuters/Michigan index for the current month.
EUR/USD key levels
At the moment the pair is up 0.40% at 1.0976 with the next resistance at 1.0991 (high Jul.30) followed by 1.1080 (high Jul.29) and finally 1.1130 (high Jul.27). On the downside, a breach of 1.0920 (low Jul.31) would aim for 1.0869 (low Jul.22) en route to 1.0811 (low Jul.21).