EUR/USD remains sideways below 1.0200

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  • The dollar with mixed results on Thursday after Fed minutes.
  • The euro adds to the general consolidation.
  • EUR/USD between 1.0140 and 1.0200.

EUR/USD is trading flat from Wednesday’s close. Since the American session on Tuesday, the pair has been trading sideways between 1.0140 and 1.0200. The financial markets on Thursday do not present significant variations, contributing to the stability of the pair.

Should it break above 1.0200, the EUR/USD could gain momentum to extend the rally. The next resistance is at 1.0240/45. In the opposite direction, below 1.0140, the focus will turn to the bottom of the last two weeks at 1.0120.

Consolidation in the markets

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The dollar presents mixed results on Thursday. DXY falls 0.05%. The financial markets are moving without a clear direction, which contributes to the continuation of a range in the EUR/USD.

On Thursday, the Eurozone’s record inflation reading for July of 8.9% was confirmed. On Wednesday in the UK it had exceeded 10% for the first time in 40 years. Inflation remains the key. Martins Kazaks stated that the European Central Bank will continue to raise rates to curb inflation. The Federal Reserve minutes showed the need to continue raising interest rates, although the pace, or to what extent, is not clear.

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In minutes in the US data will be published unemployment benefit applications and the Philly Fed survey; later it will be the turn of the report on the sale of existing homes. Also speaking in public are Esther George, from the Kansas Fed, and Neel Kashkari, from the Minneapolis Fed.

Technical levels

EUR/USD

Panorama
Last Price Today 1.0177
Today’s Daily Change -0.0003
Today’s Daily Change % -0.03
Today’s Daily Opening 1,018
Trends
20 Daily SMA 1.0211
50 Daily SMA 1.0297
100 Daily SMA 1.0498
200 Daily SMA 1.0875
levels
Previous Daily High 1.0203
Previous Daily Minimum 1.0146
Previous Maximum Weekly 1.0369
Previous Weekly Minimum 1.0159
Monthly Prior Maximum 1.0486
Previous Monthly Minimum 0.9952
Daily Fibonacci 38.2% 1.0181
Daily Fibonacci 61.8% 1.0167
Daily Pivot Point S1 1,015
Daily Pivot Point S2 1.0119
Daily Pivot Point S3 1.0092
Daily Pivot Point R1 1.0207
Daily Pivot Point R2 1.0234
Daily Pivot Point R3 1.0265

Source: Fx Street

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