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Jul 26 - 01:55 AM

EUR/USD - Gives Back Some Early Gains But Up For The Session

By John Noonan  —  Jul 25 - 11:55 PM
  • EUR/USD opened a few pips higher @ 1.0219 after brushing off weak German IFO nL8N2Z61UX

  • after trading 1.0217 it tracked higher as USD eased across the board

  • EUR/USD traded to 1.0250 before sellers steeped in and USD steadied

  • Heading into the afternoon it is trading 1.0225/30

  • EUR/USD resistance is at the June 21 pullback high at 1.0279

  • A break above 1.0280 targets the 55-day MA at 1.0450

  • Support is at the 10-day MA at 1.0161 and break would increase pressure

  • EUR/USD may continue to range-trade ahead of the Fed decision on Wednesday nL4N2Z70TX

  • The reaction to the Fed decisio should determine short-term direction nL4N2Z70C0

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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