EUR/USD bounces off 1.0930

EUR/USD bounces off 1.0930
FXStreet (Edinburgh) – The European currency is now looking to extend the rebound vs. the dollar, pushing EUR/USD back to the 1.0950/55 band after dipping to the 1.0930 area.

EUR/USD weaker post-PMIs, eyes US data

The pair lost upside momentum after being rejected at session tops around 1.1020 on Thursday, while today’s below-expectations preliminary prints in Euroland have accentuated the downward move.

Without any further releases in the euro bloc, the US docket will come to the fore, with New Home Sales and the flash manufacturing PMI gauged by Markit due later.

EUR/USD levels to watch

At the moment the pair is losing 0.23% at 1.0958 and a breakdown of 1.0931 (low Jul.24) would target 1.0892 (low Jul.22) en route to 1.0812 (low Jul.21). On the flip side, the initial up barrier lines up at 1.0997 (high Jul.24) ahead of 1.1019 (high Jul.23) and finally 1.1036 (high Jul.15).
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EUR/USD bounces off 1.0930
Source: FXStreet