Intra-Day Market Moving News and Views - EUR/USD

Intra-Day Market Moving News and Views
13 Jul 2018 03:10GMT

EUR/USD - 1.1667.. Euro trades narrowly but with a soft undertone in subdued Asian morning. Despite hitting session lows of 1.1650 after ECB minutes, the pair rallied on short covering in tandem with cable to 1.1696 near New York midday, however, price was then dragged lower by intra-day weakness in sterling and move back to 1.1655 in Australia earlier.

Euro's retreat from 1.1696 suggests re-test of 1.1650 low would be seen after consolidation, break would extend decline from Monday's 3-week high at 1.1791 to 1.1630, however, as broad outlook remains consolidative, reckon last week's low at 1.1591 should remain intact.
Offers are tipped at 1.1675/85 and more above with stops reported above 1.1700.
Bids are noted at 1.165-50 with stops below 1.1630, more stops are touted below 1.1590.

On the data front, Germany will release wholesale price index n the France's nonfarm payrolls.

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