10 Mar 2015
EUR/USD bounces off 1.0720
FXStreet (Edinburgh) - The European currency is now attempting to recover some ground vs. the US dollar on Tuesday, taking EUR/USD to the area of 1.0780/90 so far.
EUR/USD focus on Greece
Developments from Greece remain the main catalyst for the pair in the near term, with technical talks between Greek officials and the Eurogroup scheduled to start tomorrow regarding the recent reforms package submitted by Greece. In the same line, liquidity fears keep mounting in light of the €300 million repayment to the IMF due by the end of the week.
Nothing in terms of data releases in the euro area today, whereas the Business Optimism index tracked by NFIB ticked higher to 98.0 during February from 97.9 in the previous month.
EUR/USD relevant levels
As of writing the pair is losing 0.70% at 1.0776 and a breakdown of 1.0722 (12-year low Mar.10) would target 1.0502 (low Mar. 21 2003) and finally 1.0335 (2003 low. Jan.3). 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 Greece
Developments from Greece remain the main catalyst for the pair in the near term, with technical talks between Greek officials and the Eurogroup scheduled to start tomorrow regarding the recent reforms package submitted by Greece. In the same line, liquidity fears keep mounting in light of the €300 million repayment to the IMF due by the end of the week.
Nothing in terms of data releases in the euro area today, whereas the Business Optimism index tracked by NFIB ticked higher to 98.0 during February from 97.9 in the previous month.
EUR/USD relevant levels
As of writing the pair is losing 0.70% at 1.0776 and a breakdown of 1.0722 (12-year low Mar.10) would target 1.0502 (low Mar. 21 2003) and finally 1.0335 (2003 low. Jan.3). 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).