12 Aug 2015
EUR/USD closer to 1.1200
FXStreet (Córdoba) - EUR/USD continued to advance after Wall Street opening bell and printed a fresh 4-week high at 1.1190. The euro was rising across the board falling only against the Swiss franc.
EUR/USD about to test July highs
The pair is rising for the sixth day in a row against the US dollar as it continues to recover after being able to hold above 1.0800. The rally brought the price closer to July highs that lie at 1.1215/20, but it was never able to post a daily close above 1.1150.
At the moment of writing EUR/USD was trading above 1.1150, headed toward the stronger close in a month. The immediate resistance was 1.1200, 1.1220/30 and 1.1260. On the opposite direction support might lie at 1.1130 1.1100 and 1.1020.
From the fundamental perspective, the euro was unaffected by the devaluation of the Chinese Yuan neither by weaker-than-expected economic data from the Eurozone. While the US dollar remained with a bearish bias amid expectations that the Federal Reserve would raise rates later than previously expected.
EUR/USD about to test July highs
The pair is rising for the sixth day in a row against the US dollar as it continues to recover after being able to hold above 1.0800. The rally brought the price closer to July highs that lie at 1.1215/20, but it was never able to post a daily close above 1.1150.
At the moment of writing EUR/USD was trading above 1.1150, headed toward the stronger close in a month. The immediate resistance was 1.1200, 1.1220/30 and 1.1260. On the opposite direction support might lie at 1.1130 1.1100 and 1.1020.
From the fundamental perspective, the euro was unaffected by the devaluation of the Chinese Yuan neither by weaker-than-expected economic data from the Eurozone. While the US dollar remained with a bearish bias amid expectations that the Federal Reserve would raise rates later than previously expected.