010720 EURUSD

This morning will be released Germany unemployment June figures. Jobless change is expected at 120,000K vs 238,000K in May, while unemployment rate is seen at 6.6% vs 6.3% in May. 

From a technical point of view, on a daily chart, the EUR/USD consolidates into a flag pattern since early June after a significant rise. The pair stands above its 50-day moving average (in blue) while the daily RSI remains within its buying area. Readers may therefore consider the potential for further advance above 1.1100. The nearest resistance would be set at 1.1375 (June high) and a second one would be set at 1.1495 (March high) in extension.

Source : TradingVIEW, Gain Capital

Related tags: Forex Forex EUR USD

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