23 Mar 2015
EUR/USD capped by 1.0950
FXStreet (Edinburgh) - EUR/USD is now attempting a consolidation pattern in the upper end of the intraday range just below 1.0950.
EUR/USD indifferent to Merkel-Tsipras meeting
Market participants almost ignored today’s meeting between A.Merkel and A.Tsipras in Berlin, with spot barely reacting. The meeting shed no further light regarding the next steps by Greece or the euro area in order to unlock further funds to the Hellenic country. Instead, both Merkel and Tsipras highlighted the importance of a ‘good relationship’ between both countries, hoping for a positive outcome from the debt talks in the next days.
Moving forward Tuesday’s docket in the euro bloc, the preliminary manufacturing and services PMIs will be the main highlight.
EUR/USD relevant levels
As of writing the pair is up 1.13% at 1.0943 with the next resistance at 1.0956 (high Mar.23) ahead of 1.1000 (psychological level) and then 1.1062 (high Mar.18). On the flip side, a break below 1.0699 (100-h MA) would aim for 1.0670 (10-d MA) and finally 1.0650 (low Mar.20).
EUR/USD indifferent to Merkel-Tsipras meeting
Market participants almost ignored today’s meeting between A.Merkel and A.Tsipras in Berlin, with spot barely reacting. The meeting shed no further light regarding the next steps by Greece or the euro area in order to unlock further funds to the Hellenic country. Instead, both Merkel and Tsipras highlighted the importance of a ‘good relationship’ between both countries, hoping for a positive outcome from the debt talks in the next days.
Moving forward Tuesday’s docket in the euro bloc, the preliminary manufacturing and services PMIs will be the main highlight.
EUR/USD relevant levels
As of writing the pair is up 1.13% at 1.0943 with the next resistance at 1.0956 (high Mar.23) ahead of 1.1000 (psychological level) and then 1.1062 (high Mar.18). On the flip side, a break below 1.0699 (100-h MA) would aim for 1.0670 (10-d MA) and finally 1.0650 (low Mar.20).