Intra-day news and views and data to be released today – EUR/USD

AceTrader Team AceTrader

Intra-Day Market Moving News and Views

Update Time: 28 July 2020 05:30GMT

EUR/USD - 1.1749... The single currency extended its recent winning streak and rose above Friday's high at 1.1658 to 1.1725 in Asia yesterday. The pair then found renewed buying at 1.1683 in European morning and rallied to a fresh 22-month peak at 1.1781 in New York morning on usd's continued weakness before retreating to 1.1743 in New York afternoon on profit-taking. Price then rebounded again to 1.1773 in Asia today before weakening.

Euro's intra-day retreat after failure to break yesterday's high at 1.1781 suggests Medium Term upmove is not ready to resume yet and range trading would be seen, reckon bids at 1.1730/40 and more below at 1.1710/20 would contain downside and yield another rise later.
Above 1.1781 would extend to 1.1815 but offers at 1.1820/30 would cap upside and yield correction.

Data to be released on Tuesday:

UK CBI distributive trades, and U.S. redbook, CaseShiller home price, consumer confidence, Richmond Fed manufacturing index.

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