U.S. Forex Market Commentary |
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EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.4695 level and was capped around the $1.4805 level. Technically, today’s intraday high and low were around the 38.2% and 76.4% retracement of the move from $1.4630 to $1.4910, respectively. The common currency was on the defensive for a couple of reasons. First, U.S. July existing home sales were up 3.9% to an annualized 5.0 million rate, possible evidence the beleaguered
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