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16 Jul 2015
EUR/USD recovery finds resistance above 1.0900
FXStreet (Córdoba) - The euro recovered ground against the US dollar and trimmed losses after Draghi’s press conference and amid new loans to Greece. EUR/USD recovery from 1.0854 lost strength near 1.0930.
The pair peaked during the American session at 1.0925 and currently is trading back below 1.0900, at 1.0885/95, falling for the second day in a row and headed toward the lowest close since late April.
Euro still under pressure despite bridge loan and risk appetite
The rebound from the lows started following reports of a bridge loan to Greece. Stocks in Europe ended with gains. The German Dax rose 1.54%, in the UK the FTSE 1000 rose 0.63% and the Ibex in Spain gained 1.55%.
Despite financial aid for Greece and risk appetite, the euro failed to rise versus the US dollar and is also lower versus the pound and the Swiss franc.
The pair peaked during the American session at 1.0925 and currently is trading back below 1.0900, at 1.0885/95, falling for the second day in a row and headed toward the lowest close since late April.
Euro still under pressure despite bridge loan and risk appetite
The rebound from the lows started following reports of a bridge loan to Greece. Stocks in Europe ended with gains. The German Dax rose 1.54%, in the UK the FTSE 1000 rose 0.63% and the Ibex in Spain gained 1.55%.
Despite financial aid for Greece and risk appetite, the euro failed to rise versus the US dollar and is also lower versus the pound and the Swiss franc.