19 Jun 2015
EUR/USD keeps the red above 1.1300
FXStreet (Edinburgh) - The common currency remains unable to extend further the recovery from lows, relegating EUR/USD to meander around the 1.1330 area.
EUR/USD supported around 1.1300
The pair has faded the initial spike to the 1.1400 neighbourhood, losing ground along with increasing pessimism and unfavourable rumours on Greece and its debt re-negotiation.
Following yesterday’s fiasco at the Eurogroup meeting, there will be an emergency EU Leaders meeting on Monday, although some EU officials have already talked down the possibility of a deal. In the meantime, jitters on the Greek banking system have been (temporarily) somewhat allayed after the ECB raised its ELA ceiling for Greek banks by €1.8 billion for the second time this week.
EUR/USD key levels
As of writing the pair is retreating 0.21% at 1.1335 and a breach of 1.1292 (low Jun.18) would target 1.1206 (low Jun.17) en route to 1.1189 (low Jun.15). On the flip side, the initial up barrier lines up at 1.1402 (high Jun.19) ahead of 1.1437 (high Jun.18) followed by 1.1450 (high May 18).
EUR/USD supported around 1.1300
The pair has faded the initial spike to the 1.1400 neighbourhood, losing ground along with increasing pessimism and unfavourable rumours on Greece and its debt re-negotiation.
Following yesterday’s fiasco at the Eurogroup meeting, there will be an emergency EU Leaders meeting on Monday, although some EU officials have already talked down the possibility of a deal. In the meantime, jitters on the Greek banking system have been (temporarily) somewhat allayed after the ECB raised its ELA ceiling for Greek banks by €1.8 billion for the second time this week.
EUR/USD key levels
As of writing the pair is retreating 0.21% at 1.1335 and a breach of 1.1292 (low Jun.18) would target 1.1206 (low Jun.17) en route to 1.1189 (low Jun.15). On the flip side, the initial up barrier lines up at 1.1402 (high Jun.19) ahead of 1.1437 (high Jun.18) followed by 1.1450 (high May 18).