16 Feb 2015
EUR/USD decline halted at 1.1320
FXStreet (Edinburgh) - The common currency seems to have found some support in the vicinity of 1.1320 on Monday, with EUR/USD now climbing towards the 1.1330/40 band.
EUR/USD weaker on Greece no-deal
The euro saw its selling pressure intensified after the Eurogroup and Greece failed to find common ground in today’s meeting, sparking a correction lower from intraday peaks around 1.1430. According to Eurogroup officials there might be another meeting towards the end of the week, although the precise date is yet unknown.
Moving forwards Tuesday’s docket in the euro area, the EMU/Germany ZEW Survey is due, with consensus expecting a generalized improvement in all of its components.
EUR/USD levels to consider
At the moment the pair is down 0.53% at 1.1337 and a drop beyond 1.1303 (low Feb.12) would expose 1.1300 (psychological level) and finally 1.1270 (low Feb.9). On the upside, the initial hurdle lies at 1.1443 (high Feb.13) ahead of 1.1485 (Kijun Sen) and then 1.1499 (high Feb.5).
EUR/USD weaker on Greece no-deal
The euro saw its selling pressure intensified after the Eurogroup and Greece failed to find common ground in today’s meeting, sparking a correction lower from intraday peaks around 1.1430. According to Eurogroup officials there might be another meeting towards the end of the week, although the precise date is yet unknown.
Moving forwards Tuesday’s docket in the euro area, the EMU/Germany ZEW Survey is due, with consensus expecting a generalized improvement in all of its components.
EUR/USD levels to consider
At the moment the pair is down 0.53% at 1.1337 and a drop beyond 1.1303 (low Feb.12) would expose 1.1300 (psychological level) and finally 1.1270 (low Feb.9). On the upside, the initial hurdle lies at 1.1443 (high Feb.13) ahead of 1.1485 (Kijun Sen) and then 1.1499 (high Feb.5).