1 Jul 2015
EUR/USD flirts with 1.11 handle amid Greek-led exhaustion
FXStreet (Mumbai) - The EUR/USD pair is hovering close to 1.11 handle, threatening to fall below the same as proposals and counter proposals continue to fly back and forth between Greece and its international creditors.
EUR ditched as investors await definite news regarding Greece
The shared currency found some love in the European session on reports that Greek PM Tsipras is ready to accept all conditions put forward by the international creditors. However, the optimism quickly faded after German Chancellor reiterated that talks before the July 5 referendum are out of the equation.
Moreover, the markets are exhausted with the repeated pattern of fresh proposals followed by outright rejections by each party to the deal. Consequently, the EUR/USD pair fell back to 1.11 levels. The investors now await fresh and a definite news regarding the Greek crisis.
EUR/USD Technical Levels
The pair currently trades at 1.1104. The immediate support is seen at 1.1082, under which the pair could target 1.1050 (Mar 26 low). On the flip side, a break above 1.1130 could push the pair higher to 1.1188 (50-DMA).
EUR ditched as investors await definite news regarding Greece
The shared currency found some love in the European session on reports that Greek PM Tsipras is ready to accept all conditions put forward by the international creditors. However, the optimism quickly faded after German Chancellor reiterated that talks before the July 5 referendum are out of the equation.
Moreover, the markets are exhausted with the repeated pattern of fresh proposals followed by outright rejections by each party to the deal. Consequently, the EUR/USD pair fell back to 1.11 levels. The investors now await fresh and a definite news regarding the Greek crisis.
EUR/USD Technical Levels
The pair currently trades at 1.1104. The immediate support is seen at 1.1082, under which the pair could target 1.1050 (Mar 26 low). On the flip side, a break above 1.1130 could push the pair higher to 1.1188 (50-DMA).