23 Mar 2015
EUR/USD off highs, back to 1.0910
FXStreet (Edinburgh) - The single currency is now deflating from session peaks near 1.0950, dragging EUR/USD back to the 1.0910 area.
EUR/USD focus on Merkel-Tsipras
The pair keeps its buoyant tone after retaking the 1.0900 mark, against the backdrop of increasing selling pressure surrounding the US dollar. In the meantime, market participants remain vigilant on the news coming from the meeting in Berlin between Chancellor A.Merkel and PM A.Tsipras, with the Greek debt re-negotiation in the centre of the debate.
Previously, President M.Draghi testified before the European Parliament, although markets perceived his tone as neutral. Amongst the salient points, he stressed that the prospects of economic growth in the region are positive although consumer prices will remain in very low, even negative levels in the near/medium term.
EUR/USD relevant levels
As of writing the pair is up 0.87% at 1.0915 with the next resistance at 1.0952 (high Mar.23) ahead of 1.1000 (psychological level) and then 1.1062 (high Mar.18). On the flip side, a break below 1.0699 (100-h MA) would aim for 1.0670 (10-d MA) and finally 1.0650 (low Mar.20).
EUR/USD focus on Merkel-Tsipras
The pair keeps its buoyant tone after retaking the 1.0900 mark, against the backdrop of increasing selling pressure surrounding the US dollar. In the meantime, market participants remain vigilant on the news coming from the meeting in Berlin between Chancellor A.Merkel and PM A.Tsipras, with the Greek debt re-negotiation in the centre of the debate.
Previously, President M.Draghi testified before the European Parliament, although markets perceived his tone as neutral. Amongst the salient points, he stressed that the prospects of economic growth in the region are positive although consumer prices will remain in very low, even negative levels in the near/medium term.
EUR/USD relevant levels
As of writing the pair is up 0.87% at 1.0915 with the next resistance at 1.0952 (high Mar.23) ahead of 1.1000 (psychological level) and then 1.1062 (high Mar.18). On the flip side, a break below 1.0699 (100-h MA) would aim for 1.0670 (10-d MA) and finally 1.0650 (low Mar.20).