7 Jul 2015
EUR/USD in lows near 1.0950 pre-EU Summit
FXStreet (Edinburgh) - The shared currency is intensifying its weekly decline, with EUR/USD now breaching post-referendum levels near 1.0950.
EUR/USD eyes on EU summit
The pair is trading sharply lower ahead of the EU Leaders Summit due in the European evening, with all the attention to the (new?) set of proposals by Greek PM A.Tsipras.
However, EU officials have already discarded a deal at today’s meeting although some sort of common ground is indeed (and finally) expected. Further news from the Greek front states that banks and the stock exchange should re-open on Thursday, while the ECB has left unchanged its ELA mechanism, although it raised the haircuts on collateral accepted by the Bank of Greece.
EUR/USD levels to consider
The pair is now retreating 0.92% at 1.0954 with the next support at 1.0918 (low Jun.2) followed by 1.0887 (low Jun.1) and finally 1.0819 (low May 27). 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 eyes on EU summit
The pair is trading sharply lower ahead of the EU Leaders Summit due in the European evening, with all the attention to the (new?) set of proposals by Greek PM A.Tsipras.
However, EU officials have already discarded a deal at today’s meeting although some sort of common ground is indeed (and finally) expected. Further news from the Greek front states that banks and the stock exchange should re-open on Thursday, while the ECB has left unchanged its ELA mechanism, although it raised the haircuts on collateral accepted by the Bank of Greece.
EUR/USD levels to consider
The pair is now retreating 0.92% at 1.0954 with the next support at 1.0918 (low Jun.2) followed by 1.0887 (low Jun.1) and finally 1.0819 (low May 27). 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).