Back
18 May 2015
EUR/USD: Scope for 1.1530 if Friday's high broken - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/USD presents scope for a test of the 1.1530 should Friday's daily high get cleared.
Key Quotes
"The main weigh over dollar's back continues to be poor US data, which has cooled down chances of a soon to come rate hike in the US. In the meantime, negotiations between Greece and its creditors continued with no deal reached. Greek FM Yanis Varoufakis, hit the wires late Friday, again pledging for a delay in the country's repayments to the ECB, whilst PM Alex Tsipras said that they won´t cut pensions or wages."
"The EU leaders will have another round of meetings this week to discuss the matter, although they maintain their demand of reform implementations in Greece before any new aid package for Athens."
"The EUR/USD pair 4 hours chart shows that the price remains well above its moving averages, with the 20 SMA offering intraday dynamic support around 1.1350, whilst a strong static support level comes at 1.1340, where buyers have been surging by the ends of last week."
"In the same chart however, the technical indicators have turned lower from overbought levels, still far from signaling a downward continuation. Should the price advance beyond Friday's daily high, there's scope for a test of the 1.1530 price zone, February monthly high."
Key Quotes
"The main weigh over dollar's back continues to be poor US data, which has cooled down chances of a soon to come rate hike in the US. In the meantime, negotiations between Greece and its creditors continued with no deal reached. Greek FM Yanis Varoufakis, hit the wires late Friday, again pledging for a delay in the country's repayments to the ECB, whilst PM Alex Tsipras said that they won´t cut pensions or wages."
"The EU leaders will have another round of meetings this week to discuss the matter, although they maintain their demand of reform implementations in Greece before any new aid package for Athens."
"The EUR/USD pair 4 hours chart shows that the price remains well above its moving averages, with the 20 SMA offering intraday dynamic support around 1.1350, whilst a strong static support level comes at 1.1340, where buyers have been surging by the ends of last week."
"In the same chart however, the technical indicators have turned lower from overbought levels, still far from signaling a downward continuation. Should the price advance beyond Friday's daily high, there's scope for a test of the 1.1530 price zone, February monthly high."