18 May 2015
EUR/USD in red near 1.1420
FXStreet (Edinburgh) - The single currency is extending its offered tone vs. the US dollar at the beginning of the week, with EUR/USD navigating the 1.1430/20 band so far.
EUR/USD focus on Greece, Bunds
The pair will keep an eye on the German bond market, as the recent sell off and consequent rise of yields have been a source of EUR strength in the last sessions, allowing a test of multi-week tops beyond 1.1400 the figure.
The recent weakness around the greenback due to poor results in the US economy constitute the other main driver of the pair’s upside, although today’s lack of releases will leave the attention almost exclusively to the risk appetite trends.
EUR/USD key levels
At the moment the pair is losing 0.20% at 1.1427 and a break below 1.1417 (low May 18) would aim for 1.1324 (low May 15) and finally 1.1302 (10-d MA). On the flip side, the initial hurdle aligns at 1.1468 (high May 15) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5).
EUR/USD focus on Greece, Bunds
The pair will keep an eye on the German bond market, as the recent sell off and consequent rise of yields have been a source of EUR strength in the last sessions, allowing a test of multi-week tops beyond 1.1400 the figure.
The recent weakness around the greenback due to poor results in the US economy constitute the other main driver of the pair’s upside, although today’s lack of releases will leave the attention almost exclusively to the risk appetite trends.
EUR/USD key levels
At the moment the pair is losing 0.20% at 1.1427 and a break below 1.1417 (low May 18) would aim for 1.1324 (low May 15) and finally 1.1302 (10-d MA). On the flip side, the initial hurdle aligns at 1.1468 (high May 15) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5).