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22 Jun 2015
EUR/USD in red as Greek hopes fade
FXStreet (Edinburgh) - The single currency keeps losing ground vs. the greenback on Monday, with EUR/USD navigating the 1.1335/30 band.
EUR/USD gave away gains on no-deal rumours
Spot has faded the early spike to session tops beyond the 1.1400 key level, as hopes of a EU-Greece deal seem to have lost momentum in light of the upcoming Eurogroup meeting and EU Leaders Summit.
The initial optimism on the possibility of a deal today has lost vigour during the European morning, removing a significant tailwind from the initial EUR’s upside and leaving the pair to the mercy of the mounting rumours.
EUR/USD levels to consider
As of writing the pair is down 0.09% at 1.1341 with the next support at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17). On the other hand, a breakout of 1.1404 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18).
EUR/USD gave away gains on no-deal rumours
Spot has faded the early spike to session tops beyond the 1.1400 key level, as hopes of a EU-Greece deal seem to have lost momentum in light of the upcoming Eurogroup meeting and EU Leaders Summit.
The initial optimism on the possibility of a deal today has lost vigour during the European morning, removing a significant tailwind from the initial EUR’s upside and leaving the pair to the mercy of the mounting rumours.
EUR/USD levels to consider
As of writing the pair is down 0.09% at 1.1341 with the next support at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17). On the other hand, a breakout of 1.1404 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18).