The EUR extends the rebound from the 1.1170 area against the USD.
Germany’s Producer Prices came in on the strong side in June.
The USD Index clings to gains beyond the 100.00 barrier.
Speculation that the Fed’s July hike could be the last one runs high.
US, German yields attempt a tepid bounce so far.
The PBoC kept lending rates unchanged.
Australian jobs report surprised to the upside in June.
Technical Analysis: Euro faces a minor support around 1.1170
EUR/USD seems to have now settled in a consolidative fashion around 1.1200 following recent overbought levels.
The pair printed a new 2023 high at 1.1275 on July 18. Once this level is cleared, there are no resistance levels of significance until the 2022 peak of 1.1495 recorded on February 10.
On the downside, there is a minor support at the weekly low at 1.1174 (July 19) prior to the psychological 1.1000 mark, all seconded by provisional support at the 55-day and 100-day SMAs at 1.0896 and 1.0877, respectively, ahead of the July low of 1.0833 (July 6). The breakdown of this region should meet the next contention area at the key 200-day SMA at 1.0681 prior to the May low of 1.0635 (May 31). South from here emerges the March low of 1.0516 (March 15) before the 2023 low of 1.0481 (January 6).
Furthermore, the constructive view of EUR/USD appears unchanged as long as the pair trades above the key 200-day SMA.
Penafian: Pandangan yang dinyatakan adalah semata-mata dari pengarang dan tidak mewakili kedudukan rasmi Followme. Followme tidak bertanggungjawab ke atas ketepatan, kesempurnaan, atau kebolehpercayaan maklumat yang diberikan dan tidak bertanggungjawab untuk sebarang tindakan yang diambil berdasarkan kandungan, melainkan dinyatakan secara bertulis secara jelas.
Tiada ulasan lagi. Jadilah yang pertama berkongsi pandangan anda.