Analysis

EUR/USD retains extra uneven simply above 1.1200 for now

The pair is struggling for firmer course in buying and selling as we speak

EUR/USD H1 26-06
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The pair continues to be buying and selling narrowly inside a 25 pips vary as we speak, with the low touching 1.1205 earlier earlier than shifting to round 1.1230 up to now hour.

Regardless of US futures retaining softer with S&P 500 futures down zero.6% and Dow futures down zero.eight%, main currencies aren’t too affected in addition to some slight energy within the yen.

The greenback facet of the equation stays extra combined for essentially the most half so far.

For EUR/USD, sellers proceed to maintain near-term management however are struggling to go in the hunt for a firmer break below 1.1200. They managed to tread waters below the determine degree briefly in buying and selling yesterday, however had been unable to carry a break into the shut.

As for as we speak, there are giant expiries additionally seen on the degree and that could be an element to maintain value motion extra restricted across the 1.1200 deal with for now.

But when anything, it’s also telling that the market continues to be struggling for course basically over the previous two days. US shares had been additionally seen struggling yesterday initially however ended up buying and selling larger and that’s leaving buyers with little to go on.

Wanting forward, we are able to anticipate extra pessimistic coronavirus headlines popping out from the US later as we speak and the important thing query shall be is it sufficient to lastly put a extra significant drag available on the market? Or will dip consumers step in to maintain value motion extra contained?

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