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22 Jun 2015
EUR/USD off peaks, back to 1.1360
FXStreet (Edinburgh) - After another failed attempt to follow through the 1.1400 barrier, EUR/USD is now deflating towards the 1.1360 area.
EUR/USD swinging around Greece
Quite volatile session for the markets in general and the pair in particular today, trading in a roughly 100-pips range between 1.1300 and levels just above 1.1400 the figure. Greece continues to be the sole catalyst for the pair’s price action so far, following today’s unfruitful Eurogroup meeting and the usual plethora of rumours and counter-rumours by both negotiating parties.
Next on tap, the EU Leaders Summit will kick in as the last event in Euroland, and of course, Greece will take centre stage once again. With the majority of EU officials already ruling out a deal today, this summit will result in nothing other than a waste of time and the usual lack of common sense, just to hear Greek empty promises and for the 500th time that the deal is ‘around the corner’.
EUR/USD levels to consider
Anyway, the pair is up 0.05% at 1.1358 and a breakout of 1.1411 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18). On the other hand, the immediate support aligns at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17).
EUR/USD swinging around Greece
Quite volatile session for the markets in general and the pair in particular today, trading in a roughly 100-pips range between 1.1300 and levels just above 1.1400 the figure. Greece continues to be the sole catalyst for the pair’s price action so far, following today’s unfruitful Eurogroup meeting and the usual plethora of rumours and counter-rumours by both negotiating parties.
Next on tap, the EU Leaders Summit will kick in as the last event in Euroland, and of course, Greece will take centre stage once again. With the majority of EU officials already ruling out a deal today, this summit will result in nothing other than a waste of time and the usual lack of common sense, just to hear Greek empty promises and for the 500th time that the deal is ‘around the corner’.
EUR/USD levels to consider
Anyway, the pair is up 0.05% at 1.1358 and a breakout of 1.1411 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18). On the other hand, the immediate support aligns at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17).