10 Mar 2015
EUR/USD recovers 1.0800 and beyond
FXStreet (Edinburgh) - The single currency has now left the area of fresh multi-year lows around 1.0790 and is pushing EUR/USD back above the 1.0800 handle.
EUR/USD focus on USD, Greece
The US dollar is extending its march north almost unabated during the first half of the week, relegating the pair to the area last seen in September 2003 below 1.0800 the figure. Increasing concerns and uncertainty around the recently submitted reforms package by the Greek officials keep weighing on the European currency, all amidst the dominance of the US dollar.
There are no significant releases or events in the euro region today, leaving the pair to the mercy of the risk appetite trends, occasional Greek headlines and the USD.
EUR/USD relevant levels
As of writing the pair is losing 0.32% at 1.0817 and a breakdown of 1.0785 (12-year low Mar.10) would target 1.0762 (monthly low Sep.2003) and finally 1.0072 (76.4% of 0.8228-1.6040). On the flip side, the initial hurdle lines up at 1.0855 (hourly high Mar.10) followed by 1.0906 (high Mar.9) and then 1.1033 (high Mar.6).
EUR/USD focus on USD, Greece
The US dollar is extending its march north almost unabated during the first half of the week, relegating the pair to the area last seen in September 2003 below 1.0800 the figure. Increasing concerns and uncertainty around the recently submitted reforms package by the Greek officials keep weighing on the European currency, all amidst the dominance of the US dollar.
There are no significant releases or events in the euro region today, leaving the pair to the mercy of the risk appetite trends, occasional Greek headlines and the USD.
EUR/USD relevant levels
As of writing the pair is losing 0.32% at 1.0817 and a breakdown of 1.0785 (12-year low Mar.10) would target 1.0762 (monthly low Sep.2003) and finally 1.0072 (76.4% of 0.8228-1.6040). On the flip side, the initial hurdle lines up at 1.0855 (hourly high Mar.10) followed by 1.0906 (high Mar.9) and then 1.1033 (high Mar.6).