EUR/USD a new visit to 1.1080

FXStreet (Edinburgh) - The shared currency is now back in sub-1.1100 levels on Wednesday, taking EUR/USD to the area of 1.1085/80.

EUR/USD weaker ahead of FOMC

Spot is facing renewed selling pressure after being rejected from the 1.1140 area in a failed attempt to recover further ground above the 1.1100 mark. Greece remains the main drag in the pair today, with rumours about the possibility that Greece could not repay the IMF without an agreement first keep gathering traction. In addition, German finmin W.Schauble has not ruled out a Greek default.

The pair is trading in multi-week lows, or levels last seen in late April below 1.1100 the figure ahead of the FOMC minutes.

EUR/USD relevant levels

As of writing the pair is down 0.56% at 1.1086 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).