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28 Jul 2015
EUR/USD bounces off lows after US consumer confidence
FXStreet (Córdoba) - EUR/USD bounced off lows and trimmed daily losses as the greenback weakened following the release of below expectations US consumer confidence figures.
US consumer confidence index fell to 90.9 in July from 101.4 the previous month and missing expectations of 100.0. According to CB, the deterioration could reflect a less optimistic outlook for the labor market along with uncertainty and volatility in financial markets prompted by the situation in Greece and China.
The US dollar fell as immediate reaction to data, with EUR/USD reaching a session high of 1.1063, but it remains overall within its daily range as investors await the Federal Reserve policy decision.
EUR/USD key levels
At time of writing, EUR/USD is trading at 1.1050, still 0.32% below its opening price. On the upside, immediate resistances are seen at 1.1098/1.1100 (Jul 28 high/psychological level/50-day SMA), 1.1128 (Jul 27 high) and 1.1195 (Jul 13 high). On the other hand, supports could be found at 1.1021 (Jul 28 low), 1.1014 (100-day SMA) and 1.0968 (Jul 27 low).
US consumer confidence index fell to 90.9 in July from 101.4 the previous month and missing expectations of 100.0. According to CB, the deterioration could reflect a less optimistic outlook for the labor market along with uncertainty and volatility in financial markets prompted by the situation in Greece and China.
The US dollar fell as immediate reaction to data, with EUR/USD reaching a session high of 1.1063, but it remains overall within its daily range as investors await the Federal Reserve policy decision.
EUR/USD key levels
At time of writing, EUR/USD is trading at 1.1050, still 0.32% below its opening price. On the upside, immediate resistances are seen at 1.1098/1.1100 (Jul 28 high/psychological level/50-day SMA), 1.1128 (Jul 27 high) and 1.1195 (Jul 13 high). On the other hand, supports could be found at 1.1021 (Jul 28 low), 1.1014 (100-day SMA) and 1.0968 (Jul 27 low).