25 May 2015
EUR/USD maintains a negative tone – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that EUR/USD maintains a negative tone, with Greece related headlines keeping the single currency under pressure today.
Key Quotes
“The holidays in Europe and the US are keeping the FX board subdued, with majors consolidating in quite limited ranges this Monday. The EUR/USD pair has fell down to 1.0958, breaking below the 1.1000 level for the first time this May, amid doom Greek headlines, anticipating the country won't be able to meet its due payments to the IMF in June.”
“The dollar surged on Friday, as higher inflation in the US boosted hopes of a soon rate hike in the country.”
“Technically, the EUR/USD 1 hour chart maintains a negative tone, with the price a few pips above the mentioned level, and the technical indicators in negative territory, albeit lacking directional momentum amid the lack of volume.”
“In the 4 hours chart the bias is also lower as the Momentum indicator heads south below 100 whilst the 20 SMA maintains is bearish slope above the current price.”
“Support levels: 1.0960 1.0910 1.0870”
“Resistance levels: 1.1000 1.1050 1.1100”
Key Quotes
“The holidays in Europe and the US are keeping the FX board subdued, with majors consolidating in quite limited ranges this Monday. The EUR/USD pair has fell down to 1.0958, breaking below the 1.1000 level for the first time this May, amid doom Greek headlines, anticipating the country won't be able to meet its due payments to the IMF in June.”
“The dollar surged on Friday, as higher inflation in the US boosted hopes of a soon rate hike in the country.”
“Technically, the EUR/USD 1 hour chart maintains a negative tone, with the price a few pips above the mentioned level, and the technical indicators in negative territory, albeit lacking directional momentum amid the lack of volume.”
“In the 4 hours chart the bias is also lower as the Momentum indicator heads south below 100 whilst the 20 SMA maintains is bearish slope above the current price.”
“Support levels: 1.0960 1.0910 1.0870”
“Resistance levels: 1.1000 1.1050 1.1100”