26 May 2015
EUR/USD wobbles near 1.0900
FXStreet (Edinburgh) - The shared currency keeps the red territory on Tuesday, sending EUR/USD to test multi-week lows in sub-1.0900 levels.
EUR/USD weaker on Greece
The situation around Greece continues to be the main drag for the pair in the last sessions, with concerns keep building up as significant repayments are looming. Fanning the flames, several Greek government officials hinted at the possibility that the country could fail to pay the IMF next week
Absent releases in Euroland today, the main drivers for the pair’s price action will be the US docket, with Durable Goods Orders, Consumer Confidence and New Home Sales due later.
EUR/USD levels to consider
As of writing the pair is down 0.72% at 1.0898 with the immediate support at 1.0885 (low May 26) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).
EUR/USD weaker on Greece
The situation around Greece continues to be the main drag for the pair in the last sessions, with concerns keep building up as significant repayments are looming. Fanning the flames, several Greek government officials hinted at the possibility that the country could fail to pay the IMF next week
Absent releases in Euroland today, the main drivers for the pair’s price action will be the US docket, with Durable Goods Orders, Consumer Confidence and New Home Sales due later.
EUR/USD levels to consider
As of writing the pair is down 0.72% at 1.0898 with the immediate support at 1.0885 (low May 26) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).