27 Apr 2015
EUR/USD softer on Greece
FXStreet (Edinburgh) - The common currency is now depreciating further vs. its American counterpart on Monday, sending EUR/USD to challenge session lows in the 1.0820 region.
EUR/USD down from 1.0890
The pair quickly reverted a promising start, coming down from overnights peaks near 1.0890 to test the lower bound of the range near 1.0820. Headlines from Greece continue to hurt the pair after the Greek government reshuffled the team in charge of the debt negotiations, following the recent disappointment from the Eurogroup meeting. The new head of the negotiating team will be Euclid Tsakalotos, deputy Foreign Minister.
In another direction, ECB’s V.Constancio argued that a capital markets union in the euro bloc could improve risk-sharing, and that macro policies need to be strengthened.
EUR/USD levels to consider
At the moment the pair is retreating 0.30% at 1.0838 with the immediate support at 1.0789 (low Apr.24) followed by 1.0773 (21-d MA) and then 1.0737 (10-d MA). On the upside, a surpass of 1.0901 (high Apr.24) would open the door to 1.0955 (high Apr.7) and finally 1.1036 (high Apr.6).
EUR/USD down from 1.0890
The pair quickly reverted a promising start, coming down from overnights peaks near 1.0890 to test the lower bound of the range near 1.0820. Headlines from Greece continue to hurt the pair after the Greek government reshuffled the team in charge of the debt negotiations, following the recent disappointment from the Eurogroup meeting. The new head of the negotiating team will be Euclid Tsakalotos, deputy Foreign Minister.
In another direction, ECB’s V.Constancio argued that a capital markets union in the euro bloc could improve risk-sharing, and that macro policies need to be strengthened.
EUR/USD levels to consider
At the moment the pair is retreating 0.30% at 1.0838 with the immediate support at 1.0789 (low Apr.24) followed by 1.0773 (21-d MA) and then 1.0737 (10-d MA). On the upside, a surpass of 1.0901 (high Apr.24) would open the door to 1.0955 (high Apr.7) and finally 1.1036 (high Apr.6).