20 Mar 2015
EUR/USD consolidating below 1.0700
FXStreet (Edinburgh) - The shared currency keeps the positive ground vs. the greenback on Friday, with EUR/USD hovering over sub-1.0700 levels.
EUR/USD focus on Greece… again
Greece is back. The euro, however, seems to bypass the developments coming from Greece and the European Leaders’ Summit in Brussels so far, remaining in a consolidative pattern in the upper band of 1.0600 so far.
Greece is looking to deliver a list of reforms in order to get much needed funds to face upcoming repayments, although uncertainty seems to prevail so far amongst the rest of EU officials, turning the outcome unpredictable, as usual.
EUR/USD levels to consider
At the moment the pair is up 0.27% at 1.0688 and a breakout of 1.0800 (psychological level) would target 1.0920 (high Mar.19) and then 1.0940 (21-d MA). On the downside, the immediate support lines up at 1.0650 (hourly low Mar.20) followed by 1.0635 (100-h MA) and finally 1.0613 (low Mar.19).
EUR/USD focus on Greece… again
Greece is back. The euro, however, seems to bypass the developments coming from Greece and the European Leaders’ Summit in Brussels so far, remaining in a consolidative pattern in the upper band of 1.0600 so far.
Greece is looking to deliver a list of reforms in order to get much needed funds to face upcoming repayments, although uncertainty seems to prevail so far amongst the rest of EU officials, turning the outcome unpredictable, as usual.
EUR/USD levels to consider
At the moment the pair is up 0.27% at 1.0688 and a breakout of 1.0800 (psychological level) would target 1.0920 (high Mar.19) and then 1.0940 (21-d MA). On the downside, the immediate support lines up at 1.0650 (hourly low Mar.20) followed by 1.0635 (100-h MA) and finally 1.0613 (low Mar.19).