Free Trial

EUR/USD has slipped to lows as..........>

EURO-DOLLAR: EUR/USD has slipped to lows as European traders start to arrive,
last $1.1678, as the USD edges higher, perhaps in reaction to the softness in
the yuan that was observed overnight.
- July 09's hourly resistance ($1.1765) reconfirmed its significance with it
capping to start the new week. Bulls need a close above the level to confirm
traction above the 55-DMA ($1.1704) and ease bearish pressure. Bears now need a
close below the July 19 high ($1.1678), where we trade last, to gain breathing
room and below hourly support from July 20 ($1.1625) to return focus to YtD
- Today's flash EZ PMIs provide the focal point for traders this week ahead of
Thursday's ECB MonPol decision.
- Nearby FX option expiries of note at today's 10AM NY cut: $1.1665(E1.03bn),
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.