7 Jul 2015
EUR/USD deflated to 1.1008 ahead of EU summit
FXStreet (Mumbai) - The common currency is being offered ahead of the EU summit, taking the EUR/USD pair to a fresh session low of 1.1008.
Drops below 100-DMA
The spot breached the support at the hourly 100-MA located at 1.1017 amid cautious tone triggered by the Greece’s rejection of the creditor’s offer on Sunday. The investors now await the fresh news flow regarding Greece at the EU summit scheduled later today.
The spot was rejected at the high of 1.1051 levels earlier today as the traditional safe havens like the USD are being favoured ahead of the summit after the rating agency S&P said Greece may default on its payments this week.
EUR/USD Technical Levels
A break below the psychological support at 1.10 could push the spot down to 1.0955 levels. On the other hand, a break above the immediate resistance at 1.1017 (100-DMA) could see the pair re-test the daily high of 1.1051.
Drops below 100-DMA
The spot breached the support at the hourly 100-MA located at 1.1017 amid cautious tone triggered by the Greece’s rejection of the creditor’s offer on Sunday. The investors now await the fresh news flow regarding Greece at the EU summit scheduled later today.
The spot was rejected at the high of 1.1051 levels earlier today as the traditional safe havens like the USD are being favoured ahead of the summit after the rating agency S&P said Greece may default on its payments this week.
EUR/USD Technical Levels
A break below the psychological support at 1.10 could push the spot down to 1.0955 levels. On the other hand, a break above the immediate resistance at 1.1017 (100-DMA) could see the pair re-test the daily high of 1.1051.