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23 Jun 2015
EUR/USD bounces off 1.1250, Greece eyed
FXStreet (Edinburgh) - The single currency is markedly lower vs. the greenback on Tuesday, relegating EUR/USD to the mid-1.1200s, or session lows.
EUR/USD weaker on Greek unease
Spot is rapidly losing ground today after upbeat Chinese PMI and renewed hopes of a EU-Greece deal failed to ignite a more sustainable demand for the European currency.
The selling pressure around euro has been building up during the Asian session in response to the lack of effective progress in the Greek debt talks, while market participants keep gauging the likeliness of a default in light of the June 30th deadline.
Data wise in Euroland, flash manufacturing and services PMIs for the current month are due, followed by Durable Goods Orders and housing sector releases across the pond.
EUR/USD levels to consider
As of writing the pair is down 0.63% at 1.1267 with the next support at 1.1205 (low Jun.17) followed by 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).
EUR/USD weaker on Greek unease
Spot is rapidly losing ground today after upbeat Chinese PMI and renewed hopes of a EU-Greece deal failed to ignite a more sustainable demand for the European currency.
The selling pressure around euro has been building up during the Asian session in response to the lack of effective progress in the Greek debt talks, while market participants keep gauging the likeliness of a default in light of the June 30th deadline.
Data wise in Euroland, flash manufacturing and services PMIs for the current month are due, followed by Durable Goods Orders and housing sector releases across the pond.
EUR/USD levels to consider
As of writing the pair is down 0.63% at 1.1267 with the next support at 1.1205 (low Jun.17) followed by 1.1189 (low Jun.15) and then 1.1151 (low Jun.12). On the other hand, a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18).