EURUSD MUTED AHEAD OF KEY RISK EVENTS
The euro continues to trade with a cautious tone against the US dollar as traders await US President Donald Trump’s meeting with EU trade negotiator Jean-Claude-Juncker in Washington. The EUR/USD pair looked past stronger than expected German IFO survey for the month of July during today’s European trading session. Buyers need sustained gains above the 1.1724 resistance level, while sellers simply need to hold price below the 1.1650 level.
The EURUSD pair is only intraday bullish while trading above the 1.1724 level, key resistance above the 1.1724 level is found at the 1.1750 and 1.1790 levels.
If the EURUSD pair holds price below the 1.1650 level, key support remains at the 1.1630 and 1.1600 technical levels.