16 Jun 2015
EUR/USD unmotivated around 1.1240
FXStreet (Edinburgh) - The European currency now seems to have found a comfort zone vs. the US dollar, as seen by the EUR/USD trying to consolidate in the 1.1240 region.
EUR/USD isolated from ‘Grexit’ rumours
Volatility in the FX markets is appreciable lower now, with spot keeping the trade in a tight range in spite of the plethora of rumours coming from the Greek front. In the meantime, the debt talks between Greece and its EU creditors remain stagnant amidst escalating verbal effervescence from Greek officials, while market participants now seeing the next Eurogroup meeting on June 18th as vital in order to clinch a deal.
Next of relevance in the pair will be the FOMC statement and press conference by Chairwoman J.Yellen due tomorrow. Prior surveys expect both the statement and Yellen’s tone to be on the hawkish side, putting further downside pressure to the pair.
EUR/USD relevant levels
As of writing the pair is losing 0.37% at 1.1242 and a break below 1.1205 (low Jun.16) would open the door to 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the flip side, the immediate hurdle lines up at 1.1331 (high Jun.16) ahead of 1.1334 (high Jun.11) and finally 1.1387 (high Jun.10).
EUR/USD isolated from ‘Grexit’ rumours
Volatility in the FX markets is appreciable lower now, with spot keeping the trade in a tight range in spite of the plethora of rumours coming from the Greek front. In the meantime, the debt talks between Greece and its EU creditors remain stagnant amidst escalating verbal effervescence from Greek officials, while market participants now seeing the next Eurogroup meeting on June 18th as vital in order to clinch a deal.
Next of relevance in the pair will be the FOMC statement and press conference by Chairwoman J.Yellen due tomorrow. Prior surveys expect both the statement and Yellen’s tone to be on the hawkish side, putting further downside pressure to the pair.
EUR/USD relevant levels
As of writing the pair is losing 0.37% at 1.1242 and a break below 1.1205 (low Jun.16) would open the door to 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the flip side, the immediate hurdle lines up at 1.1331 (high Jun.16) ahead of 1.1334 (high Jun.11) and finally 1.1387 (high Jun.10).