19 Jun 2015
EUR/USD capped by 1.1400, Greece weighs
FXStreet (Mumbai) - The shared currency remains well bid versus the US dollar in the Asian morning, with EUR/USD consolidating below 1.14 handle. Although the upside in the major remains capped by the Greece deadlock and the key resistance at one-month highs of 1.1450.
EUR/USD faces upside barrier at 1.1450
The EUR/USD pair trades 0.14% higher at 1.1379, retreating from fresh session highs reached at 1.1389. The EUR/USD pair keeps gains in the Asia as the US dollar stalled its upward moves following a slew of upbeat economic releases released in the US last session.
However, the major remains restricted below 1.1400 mainly on the back of Greece stand-off once again at Thursday’s Euro group meeting where the talks were concluded with no deal reached between Greece and its international creditors.
Meanwhile, the major is expected to face strong resistance at the monthly high, while the potential to spike above this level could see an almost free run to 1.20 as there is no closer technical obstacle.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1438 (June 18 High) levels. On the flip side, support is seen at 1.1329 (June 18 Low) below which it could extend losses to 1.1297 (May 18 Low) levels.
EUR/USD faces upside barrier at 1.1450
The EUR/USD pair trades 0.14% higher at 1.1379, retreating from fresh session highs reached at 1.1389. The EUR/USD pair keeps gains in the Asia as the US dollar stalled its upward moves following a slew of upbeat economic releases released in the US last session.
However, the major remains restricted below 1.1400 mainly on the back of Greece stand-off once again at Thursday’s Euro group meeting where the talks were concluded with no deal reached between Greece and its international creditors.
Meanwhile, the major is expected to face strong resistance at the monthly high, while the potential to spike above this level could see an almost free run to 1.20 as there is no closer technical obstacle.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1438 (June 18 High) levels. On the flip side, support is seen at 1.1329 (June 18 Low) below which it could extend losses to 1.1297 (May 18 Low) levels.