Intra-day Market Moving News and Views
22 Jul 2014 08:58 GMT
EUR/USD - .... The single currency met renewed selling interest at 1.3530 in Asian morning n weakened ahead of European open. Intra-day decline accelerated in early European morning n price fell below last Fri's 5-month low at 1.3491 to 1.3480 on broad-based selling of euro. Offers are now seen at 1.3500/05 and more above at 1.3515/20 with stops building up above there whilst initial bids are noted at 1.3460/70, suggesting selling on recovery is favored.
Earlier in the Asian morning opening today saw the single currency moved sideways below yesterday's high of 1.3549 but with a soft bias due to ongoing market sentiments that the ECB has room to loosen policy while the Federal Reserve will continue to wind down stimulus tools this year n hike interest rates in 2015.
There are zero economic data to be released fm EZ today, therefore, euro should closely followed the move with other usd/majors.
Range trading below y'day's high of 1.3549 is likely to continue ahead of European open as market eyes on events unfolding in Ukraine and Gaza whilst stops located just below last Fri's 5-month low at 1.3491 are in focus.
At the moment, offers from various accounts was noted at 1.3535/40 n then 1.3545/50 with mixture of offers n stops located above 1.3570.
On the downside, bids were placed at 1.3515/10 and around 1.3500.
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