18 Feb 2015
EUR/USD unable to hold above 1.1400
FXStreet (Córdoba) - EUR/USD spiked to the upper side of its daily range and printed session highs above 1.1400 following the FOMC minutes, which showed members are leaned to hold rates low for a “longer period”.
EUR/USD reached a session peak of 1.1410 but remained well-within its recent range as investors keep the Greek situation on check. At time of writing, the pair is trading at 1.1395, still 0.12% below its opening price.
Latest reports confirm the ECB has agreed an extension of the ELA for Greek banks, which gives the Hellenic country more time to negotiate with its creditors. The Greek government would reportedly submit a request of the loan agreement on Thursday.
EUR/USD technical perspective
“The technical picture shows that the pair trades between two trend lines, with the largest below current price, coming from the multi-year low at 1.1097 containing the downside around 1.1340, and the shortest being a descendant trend line currently around 1.1435”, said Valeria Bednarik, chief analyst at FXStreet. “The 4 hours chart shows that the price hovers around a flat 20 SMA while the technical indicators remain stuck around their mid-lines, giving no clear clues on what's next for the pair”.
EUR/USD reached a session peak of 1.1410 but remained well-within its recent range as investors keep the Greek situation on check. At time of writing, the pair is trading at 1.1395, still 0.12% below its opening price.
Latest reports confirm the ECB has agreed an extension of the ELA for Greek banks, which gives the Hellenic country more time to negotiate with its creditors. The Greek government would reportedly submit a request of the loan agreement on Thursday.
EUR/USD technical perspective
“The technical picture shows that the pair trades between two trend lines, with the largest below current price, coming from the multi-year low at 1.1097 containing the downside around 1.1340, and the shortest being a descendant trend line currently around 1.1435”, said Valeria Bednarik, chief analyst at FXStreet. “The 4 hours chart shows that the price hovers around a flat 20 SMA while the technical indicators remain stuck around their mid-lines, giving no clear clues on what's next for the pair”.