11 Jun 2015
EUR/USD resilient around 1.1300, Greece eyed
FXStreet (Edinburgh) - The shared currency is shedding part of its recent gains vs. the US dollar on Thursday, with EUR/USD clinging to the 1.1300 area so far.
EUR/USD remains vigilant on Greece, US data
Despite the dollar advance today, spot manages to survive around the 1.1300 neighbourhood, pending cues for developments in Greece after the recent meeting between Tsipras, Merkel and Hollande. Negotiations are expected to resume today in Brussels after officials remarked that the differences have now narrowed (?).
Absent relevant data in Euroland, US Retail Sales will be the main event today followed by Initial Claims. Prior surveys expect headline sales to have grown 1.1% on a monthly basis during May, leaving behind the recent weakness and pointing to a strong second quarter in the US economy.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.25% at 1.1296 with the next support at 1.1284 (low Jun.11) followed by 1.1271 (low Jun.10) and finally 1.1214 (low Jun.9). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).
EUR/USD remains vigilant on Greece, US data
Despite the dollar advance today, spot manages to survive around the 1.1300 neighbourhood, pending cues for developments in Greece after the recent meeting between Tsipras, Merkel and Hollande. Negotiations are expected to resume today in Brussels after officials remarked that the differences have now narrowed (?).
Absent relevant data in Euroland, US Retail Sales will be the main event today followed by Initial Claims. Prior surveys expect headline sales to have grown 1.1% on a monthly basis during May, leaving behind the recent weakness and pointing to a strong second quarter in the US economy.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.25% at 1.1296 with the next support at 1.1284 (low Jun.11) followed by 1.1271 (low Jun.10) and finally 1.1214 (low Jun.9). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).