EUR/USD looks directionless around 1.1230 on Friday. Markit’s Services PMIs next of relevance In the euro area. US market will be close due to the Independence Day holiday. The single currency remains within the multi-session consolidative range, with EUR/USD hovering around the 1.1230/40 band following the opening bell in Euroland. EUR/USD stays supported near 1.1170 EUR/USD sticks to the side-lined theme so far at the end of the week, always around 1.1230/40 and with clear and decent support near 1.1170. In the meantime, the broader risk appetite trends continue to drive the sentiment in the global markets, with the relentless advance of the coronavirus pandemic in centre stage and against the backdrop of the gradual re-opening of the economy around the world. Later in the docket, the final Services PMIs in the euro area for the month of June will be the only publication of note on this side of the Atlantic. In the US, markets will be closed due to the Independence Day holiday. What to look for around EUR EUR/USD remains well supported around the 1.1170 region so far. In the meantime, investors continue to gauge the gradual and relentless re-opening of the economy in Europe against the possibility of a second wave of contagion (as per new coronavirus outbreaks around the world). The constructive view in the euro, however, remains well sustained by the improvement of some fundamentals in the region, in turn propped up by persistent (and massive) monetary stimulus by central banks. On top, the solid performance of the region’s current account is also adding to the attractiveness of the shared currency. EUR/USD levels to watch At the moment, the pair is receding 0.12% at 1.1226 and faces immediate contention at 1.1168 (monthly low Jun.19) seconded by 1.1147 (high Mar.27) and finally 1.1037 (200-day SMA). On the other hand, a breakout of 1.1348 (weekly high Jun.23) would target 1.1422 (monthly high Jun.10) en route to 1.1495 (2020 high Mar.9). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Élysée Office: French PM Edouard Philippe resigns FX Street 3 years EUR/USD looks directionless around 1.1230 on Friday. Markit’s Services PMIs next of relevance In the euro area. US market will be close due to the Independence Day holiday. The single currency remains within the multi-session consolidative range, with EUR/USD hovering around the 1.1230/40 band following the opening bell in Euroland. EUR/USD stays supported near 1.1170 EUR/USD sticks to the side-lined theme so far at the end of the week, always around 1.1230/40 and with clear and decent support near 1.1170. In the meantime, the broader risk appetite trends continue to drive the sentiment in the global markets, with the relentless… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
