7 Jul 2015
EUR/USD around 1.1030, EU Summit eyed
FXStreet (Edinburgh) - The shared currency is now stabilizing in the 1.1030 area vs. the greenback on Tuesday, with EUR/USD coming down from overnight tops near 1.1060.
EUR/USD focus on EU Summit
The cautious tone continues to prevail amongst market participants following the ‘No’ win in the Greek referendum on Sunday. In addition, the bank holiday in Greece is expected to last until tomorrow, while the ECB has left its ELA ceiling unchanged for Greek banks, although it has adjusted its haircuts on their collateral.
Nothing worth mentioning in the data space in both Euroland and the US, with the EU Leaders Summit being the most relevant event this evening in Europe.
EUR/USD levels to consider
The pair is now retreating 0.17% at 1.1036 with the next support at 1.0970 (low Jul.6) followed by 1.0955 (low Jun.29) and finally 1.0900 (psychological level). On the other hand, a breakout of 1.1059 (high Jul.7) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
EUR/USD focus on EU Summit
The cautious tone continues to prevail amongst market participants following the ‘No’ win in the Greek referendum on Sunday. In addition, the bank holiday in Greece is expected to last until tomorrow, while the ECB has left its ELA ceiling unchanged for Greek banks, although it has adjusted its haircuts on their collateral.
Nothing worth mentioning in the data space in both Euroland and the US, with the EU Leaders Summit being the most relevant event this evening in Europe.
EUR/USD levels to consider
The pair is now retreating 0.17% at 1.1036 with the next support at 1.0970 (low Jul.6) followed by 1.0955 (low Jun.29) and finally 1.0900 (psychological level). On the other hand, a breakout of 1.1059 (high Jul.7) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).