24 Jun 2015
EUR/USD keeps the 1.12 handle pre-Eurogroup
FXStreet (Edinburgh) - The common currency keeps the buoyant tone on Wednesday, sending EUR/USD to test highs near 1.1240 ahead of the Eurogroup meeting.
EUR/USD focus on Greece
Greece remains at the top of the agenda in today’s Eurogroup meeting to be held in Brussels, with Greek PM A.Tsipras expected to previously meet with Juncker, Draghi and Lagarde. Further news saw the ECB extending its emergency funding to the Greek banks under its ELA mechanism, all in light of the persistent deterioration of the Greek banking system in response to the increasing deposits withdrawals by Greek savers.
In the data space, the German IFO came in below consensus in all of its components, although spot paid little attention, if any, to the release.
EUR/USD levels to consider
As of writing the pair is up 0.38% at 1.1210 and a breakout of 1.1236 (high Jun.23) would open the door to 1.1349 (high Jun.23) and finally 1.1404 (high Jun.22). On the other hand, the next support lines up at 1.1154 (low Jun.24) followed by 1.1135 (low Jun.23) and then 1.1087 (low Jun.8).
EUR/USD focus on Greece
Greece remains at the top of the agenda in today’s Eurogroup meeting to be held in Brussels, with Greek PM A.Tsipras expected to previously meet with Juncker, Draghi and Lagarde. Further news saw the ECB extending its emergency funding to the Greek banks under its ELA mechanism, all in light of the persistent deterioration of the Greek banking system in response to the increasing deposits withdrawals by Greek savers.
In the data space, the German IFO came in below consensus in all of its components, although spot paid little attention, if any, to the release.
EUR/USD levels to consider
As of writing the pair is up 0.38% at 1.1210 and a breakout of 1.1236 (high Jun.23) would open the door to 1.1349 (high Jun.23) and finally 1.1404 (high Jun.22). On the other hand, the next support lines up at 1.1154 (low Jun.24) followed by 1.1135 (low Jun.23) and then 1.1087 (low Jun.8).