25 May 2015
EUR/USD stabilizing near 1.0980
FXStreet (Edinburgh) - The European currency remains entrenched in the negative territory on Monday, with EUR/USD now sidelining near 1.0980.
EUR/USD attention to Fedspeak, US data
The pair is extending the breakdown of the psychological 1.1000 handle at the beginning of the week, while markets keep digesting the recent US CPI during April and the speech by Chairwoman J.Yellen, who stressed that a rate hike is expected ‘at some point during the year’.
In the Greek front, there is no fresh news so far, although market participants remain vigilant and aware of the imminent repayments facing Greece and the lack of progress in the negotiations.
EUR/USD levels to consider
As of writing the pair is down 0.28% at 1.0980 with the immediate support at 1.0959 (low May 25) ahead of 1.0922 (5055-d MA) and then 1.0860 (low Apr.28). On the other hand a breakout of 1.1062 (low May 20) would aim for 1.1208 (high May 22) and then 1.1217 (38.2% of 1.1468-1.1062).
EUR/USD attention to Fedspeak, US data
The pair is extending the breakdown of the psychological 1.1000 handle at the beginning of the week, while markets keep digesting the recent US CPI during April and the speech by Chairwoman J.Yellen, who stressed that a rate hike is expected ‘at some point during the year’.
In the Greek front, there is no fresh news so far, although market participants remain vigilant and aware of the imminent repayments facing Greece and the lack of progress in the negotiations.
EUR/USD levels to consider
As of writing the pair is down 0.28% at 1.0980 with the immediate support at 1.0959 (low May 25) ahead of 1.0922 (5055-d MA) and then 1.0860 (low Apr.28). On the other hand a breakout of 1.1062 (low May 20) would aim for 1.1208 (high May 22) and then 1.1217 (38.2% of 1.1468-1.1062).