21 May 2015
EUR/USD keeps gains above 1.1100
FXStreet (Edinburgh) - The buoyant tone remains intact around the common currency on Thursday, with EUR/USD meandering the low-1.1100s so far.
EUR/USD focus on Greece, Riga
The pair is advancing for the first time since Monday as the offered tone has apparently returned to the greenback. However, spot was unable to benefit further from the (once again) poor results from the US docket today, where Existing Home Sales, Markit’s PMI and the manufacturing survey by the Philly Fed all missed consensus expectations.
The EU Leaders Summit in Riga kicks in later on today, with the debt talks between Greece and its EU partners taking centre stage, although several EU officials have already talked down the likeliness of a deal.
EUR/USD levels to consider
As of writing the pair is up 0.31% at 1.1128 and a breakout of 1.1217 (38.2% of 1.1468-1.1062) would open the door to 1.1247 (10-d MA) and then 1.1300 (psychological level). On the flip side, the immediate support lines up at 1.1080 (low May 21) followed by 1.1062 (low May 20) and finally 1.0994 (50% of 1.0521-1.1468).
EUR/USD focus on Greece, Riga
The pair is advancing for the first time since Monday as the offered tone has apparently returned to the greenback. However, spot was unable to benefit further from the (once again) poor results from the US docket today, where Existing Home Sales, Markit’s PMI and the manufacturing survey by the Philly Fed all missed consensus expectations.
The EU Leaders Summit in Riga kicks in later on today, with the debt talks between Greece and its EU partners taking centre stage, although several EU officials have already talked down the likeliness of a deal.
EUR/USD levels to consider
As of writing the pair is up 0.31% at 1.1128 and a breakout of 1.1217 (38.2% of 1.1468-1.1062) would open the door to 1.1247 (10-d MA) and then 1.1300 (psychological level). On the flip side, the immediate support lines up at 1.1080 (low May 21) followed by 1.1062 (low May 20) and finally 1.0994 (50% of 1.0521-1.1468).