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Upside looks limited after less compelling EU Summit deal – EUR/USD Market Outlook – 20/07/2020

SquaredFinancial

The Euro keeps flirting with 1.1450s despite the EU has failed to strike a stimulus deal after three days of negotiations. However, report suggests that EU leaders are ready to accept €390B in grants which could possibly push the single currency towards 1.1497, although gains will likely be short-lived around that critical resistance as the deal is much less compelling from the initial €750B.

Support: 1.1415 / 1.1370
Resistance: 1.1450 / 1.1497

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/upside-looks-limited-after-less-compelling-eu-summit-deal-eur-usd-market-outlook-20-07-2020
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