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Forex pairs in this Article » EUR/USD (Edinburgh) -After hitting the boundaries of 1.3170 overnight, the EUR/USD returned to the mid 1.3100s area ahead of the opening bell in London on Monday.

EUR/USD propped up by Portugal

The political effervescence in Portugal seems to be under control after officials came to an agreement on Sunday, avoiding early elections. The G20 meeting in Moscow over the weekend had no impact in the FX space, as the focus was on the job creation and the possible effects of the Fed’s scaling back its QE programme as a second-tier concern. With no events in the euro area on Monday, housing data and the Chicago Fed index will be in the limelight today.

EUR/USD key levels

The pair is now advancing 0.10% at 1.3153 with the next resistance at 1.3179 (high Jul.17) ahead of 1.3208 (high Jul.11) and finally 1.3255 (high Jun.21). On the downside, a breach of 1.3089 (low Jul.19) would expose 1.3065 (cloud base) and then 1.3051 (low Jul.16).
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