EUR/USD

EURUSD trading around 1.1335 at press time , as it looks the buyers have lost the fumes after repeated tries to break the level. The 200 MA is acting as a strong resistance as it tried five times to break above the region. A rejection would probably make the price fall back to 1.1180, where we have seen a strong support as buyers coming in.
EU commission special meeting is scheduled on 17-18 July in Brussels, where EU leaders comes to discuss of the Covid crisis & the MFF.
If all the members finally agree on the proposed amount of Euro 1074 billion, we might see a surge in price & test mid Feb'20 highs at 1.15. Till that time I would expect the price to be range bound between 1.1350-1.1180 region.

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