EUR/USD back to 1.3600

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The shared currency is now returning to the proximity of 1.3600 the figure, dragging the EUR/USD from earlier session tops around 1.3630.

EUR/USD unmotivated, focus on Portugal

Fortunately, this dull trading week is about to finish. Despite the recent headlines and jitters coming from Portugal on its biggest bank – Banco Espirito Santo - the EUR managed pretty well to keep the trade around or above the 1.3600 handle, closing the week with a marginal gain so far after the previous weekly pullback. “We are inclined to stick with the bearish bias again for the week ahead given spot today is already lower from today’s high in response to the news that an entity in Portugal’s Espirito Santo Financial Group missed some short-term debt repayments”, said analysts at BTMU.

EUR/USD levels to consider

As of writing the pair is down just 0.01% at 1.3606 and a break below 1.3588 (low Jul.8) would target 1.3576 (low Jul.7) en route to 1.3574 (low Jun.23). On the other hand, the initial resistance lines up at 1.3639 (Tenkan Sen) ahead of 1.3651 (high Jul.10) and finally 1.3664 (high Jul.3).

You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Will Fed and Greek Elections Keep FX Volatility Boiling

  2. Forex News

    Dollar and S&P 500 Traders Hold Breath for Fed Decision

  3. Forex News

    Trading Video: EURUSD, EURJPY and EURGBP Ready for Greek Election

  4. Forex News

    Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

  5. Forex News

    US Session Recap: Greenback profits taken off table

Trading Center