15 Jul 2015
EUR/USD drops to 1.0930, focus on Greek vote
FXStreet (Edinburgh) - The offered tone remains intact around EUR/USD, now extending the drop to fresh lows in the 1.0930/25 band.
EUR/USD weaker on Yellen
The more hawkish than expected tone from Chairwoman J.Yellen at today’s testimony has boosted the demand for the US dollar, rapidly sending spot to fresh lows in the 1.0930 region, where it has seemed to find some decent support.
In addition, the dollar has found extra legs in the US data releases, which have all surpassed initial estimates today.
In the Greek front, confusion is growing bigger ahead of the parliamentary vote due tonight in Europe, with rumours mounting regarding a debt relief, a bridge loan and the possibility that PM A.Tsipras could step down following the results.
EUR/USD levels to watch
At the moment the pair is retreating 0.67% at 1.0935 and a breach of 1.0916 (low Jul.7) would expose 1.0900 (psychological level) and finally 1.0887 (low Jun.1). On the other hand, the initial up barrier aligns at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13).
EUR/USD weaker on Yellen
The more hawkish than expected tone from Chairwoman J.Yellen at today’s testimony has boosted the demand for the US dollar, rapidly sending spot to fresh lows in the 1.0930 region, where it has seemed to find some decent support.
In addition, the dollar has found extra legs in the US data releases, which have all surpassed initial estimates today.
In the Greek front, confusion is growing bigger ahead of the parliamentary vote due tonight in Europe, with rumours mounting regarding a debt relief, a bridge loan and the possibility that PM A.Tsipras could step down following the results.
EUR/USD levels to watch
At the moment the pair is retreating 0.67% at 1.0935 and a breach of 1.0916 (low Jul.7) would expose 1.0900 (psychological level) and finally 1.0887 (low Jun.1). On the other hand, the initial up barrier aligns at 1.1036 (high Jul.15) followed by 1.1086 (high Jul.14) and then 1.1197 (high Jul.13).