Intra-day market moving news and views
Update Time: 20 July 2021 05:30GMT.
EUR/USD - 1.1799.. Euro moves narrowly in subdued Asian morning after Monday's roller-coaster ride. Although price met selling at 1.1813 (AUS) n fell in Europe on renewed USD's strength to 1.1766, then to a fresh 3-month low of 1.1765 shortly after New York open, price briefly jumped to 1.1824 on active buying in EUR/GBP and short squeeze before retreating to 1.1792 in late New York.
Despite intra-day marginal weakness to 1.1791 at Asian open, as said yesterday's low suggests recent decline has made a temp. bottom, range trading is likely to continue in Europe n above 1.1824 would bring stronger retracement to 1.1845/50 before prospect of retreat.
Bids are noted at 1.1795/90 with stops below 1.1765 while offers are tipped at 1.1815/20 with stops touted above 1.1825.
On the data front, we have Germany's PPI n then EU's current account.
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