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10 Apr 2015
EUR/USD back around 1.0600
FXStreet (Edinburgh) - The bullish attempt in EUR/USD seems to have run out of legs near 1.0640, with spot now deflating to the 1.0600 neighbourhood.
EUR/USD focus on the ECB, Greece
The resurgence of the buying interest around the greenback have been dragging the pair from the critical resistance area at 1.1040/60 on Monday to today’s 3-week lows around 1.0580.
The leg lower came despite Greece repaid the IMF €450 million on Thursday, although uncertainties keep building up regarding the whole debt renegotiation and rumours that the country could run out of money towards month-end.
EUR/USD levels to watch
The pair is now losing 0.54% at 1.0601 with the next support at 1.0580 (low Mar.18) followed by 1.0551 (low Mar.17) and then 1.0457 (12-year low Mar.16). On the flip side, a breakout of 1.0685 (hourly high Apr.10) would target 1.0788 (high Apr.9) en route to 1.0797 (10-d MA).
EUR/USD focus on the ECB, Greece
The resurgence of the buying interest around the greenback have been dragging the pair from the critical resistance area at 1.1040/60 on Monday to today’s 3-week lows around 1.0580.
The leg lower came despite Greece repaid the IMF €450 million on Thursday, although uncertainties keep building up regarding the whole debt renegotiation and rumours that the country could run out of money towards month-end.
EUR/USD levels to watch
The pair is now losing 0.54% at 1.0601 with the next support at 1.0580 (low Mar.18) followed by 1.0551 (low Mar.17) and then 1.0457 (12-year low Mar.16). On the flip side, a breakout of 1.0685 (hourly high Apr.10) would target 1.0788 (high Apr.9) en route to 1.0797 (10-d MA).