12 May 2015
EUR/USD testing highs near 1.1240
FXStreet (Edinburgh) - The shared currency keeps pushing higher on Tuesday, now lifting EUR/USD to test daily highs near 1.1240.
EUR/USD firmer on Greece, Bunds
German Bunds continue to outperform today giving further tailwinds to the EUR upside, while the recent ‘constructive’ tone between Greece and its EU creditors has left the door open for a potential agreement in the upcoming days (?). Markets are reacting positively following Greece repayment of €780m to the IMF, despite Greek officials have already announced the payment at yesterday’s Eurogroup meeting.
Nothing in terms of data releases in the euro area today, whereas NFIB’s Business Optimism Index and the speech by FOMC Williams are due across the pond.
EUR/USD levels to watch
At the moment the pair is advancing 0.71% at 1.1234 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).
EUR/USD firmer on Greece, Bunds
German Bunds continue to outperform today giving further tailwinds to the EUR upside, while the recent ‘constructive’ tone between Greece and its EU creditors has left the door open for a potential agreement in the upcoming days (?). Markets are reacting positively following Greece repayment of €780m to the IMF, despite Greek officials have already announced the payment at yesterday’s Eurogroup meeting.
Nothing in terms of data releases in the euro area today, whereas NFIB’s Business Optimism Index and the speech by FOMC Williams are due across the pond.
EUR/USD levels to watch
At the moment the pair is advancing 0.71% at 1.1234 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).