25 Jun 2015
EUR/USD gains appear limited around 1.1230 – TDS
FXStreet (Edinburgh) - Strategists at TD Securities see the upside in the pair could stall around the 1.1230 area.
Key Quotes
“Expect markets to remain on headline watch for a resolution but there does appear to be as bit of as finger-pointing element to the latest comments which—in any dispute—is never a good place to be”.
“And, without a deal, there will be a lot of concern about whether the creaking Greek banking system can hold up without the support of ECB emergency liquidity”.
“The risk of capital controls being imposed has risen”.
“We think scope for EUR gains remains limited with the focus is on Greek talks. We think the 1.1225/50 area should cap while uncertainty prevails”.
“Technically, the EUR looks to be trading on as weaker footing, leaving it vulnerable to further weakness, but it is unclear whether trends are sustainable. Key short-term support is 1.1140”.
Key Quotes
“Expect markets to remain on headline watch for a resolution but there does appear to be as bit of as finger-pointing element to the latest comments which—in any dispute—is never a good place to be”.
“And, without a deal, there will be a lot of concern about whether the creaking Greek banking system can hold up without the support of ECB emergency liquidity”.
“The risk of capital controls being imposed has risen”.
“We think scope for EUR gains remains limited with the focus is on Greek talks. We think the 1.1225/50 area should cap while uncertainty prevails”.
“Technically, the EUR looks to be trading on as weaker footing, leaving it vulnerable to further weakness, but it is unclear whether trends are sustainable. Key short-term support is 1.1140”.