7 Jul 2015
EUR/USD stuck around 1.0950
FXStreet (Edinburgh) - The single currency is now stabilizing in the mi-1.0900S vs. the US dollar, with EUR/USD managing to bounce off multi-week lows near 1.0910.
EUR/USD attention remains on Greece
The pair posted no reaction following news of another (?) EU Summit on Sunday after the Greek government confirmed it will submit an ‘interim agreement’ tomorrow in an effort to re-open the banks on Thursday.
In the meantime, markets continue to suffer the Greek uncertainty and mounting speculations on a ‘Grexit’ scenario, with stocks extending the negative streak and spot putting the 1.0900 support to the test.
EUR/USD levels to consider
The pair is now retreating 0.85% at 1.0961 with the next support at 1.0916 (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 attention remains on Greece
The pair posted no reaction following news of another (?) EU Summit on Sunday after the Greek government confirmed it will submit an ‘interim agreement’ tomorrow in an effort to re-open the banks on Thursday.
In the meantime, markets continue to suffer the Greek uncertainty and mounting speculations on a ‘Grexit’ scenario, with stocks extending the negative streak and spot putting the 1.0900 support to the test.
EUR/USD levels to consider
The pair is now retreating 0.85% at 1.0961 with the next support at 1.0916 (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).