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EUR/USD downside testing May's lows – FXStreet
FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that thin ranges have extended all through the forex board this Monday, with the EUR/USD pair having traded in a 50 pips range and closing the day a handful of pips above its daily high.
Key Quotes:
“The pair has fallen down to test May’s low at 1.0819, during the Asian session and bounced up to 1.0869 mid American afternoon, but failed to sustain its gains. The calendar was light, but in Europe news were pretty discouraging as the German Producer Price Index fell by 1.4% in June compared to a year before, while monthly basis, the index fell by 0.1%, both numbers missing expectations.”
“The EU current account recorded a surplus of €18.0 billion in May 2015 below a revised €24.0B from April, whilst there were no macroeconomic news in the US. In another order of news, Greek banks have reopened after being closed for three weeks, whilst the country pay to the IMF a €1.6B maturity.”
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Source: FXStreet
