13 Jul 2015
EUR/USD remains sub-1.1100 post-Greek deal
FXStreet (Edinburgh) - The shared currency still navigates the negative territory on Monday, with EUR/USD looking to stabilize in the 1.1070 region.
EUR/USD capped by 1.1200
The pair attempted a bull run in the wake of the EU Summit’s announcement of a deal with Greece, although the upside lost vigour in the 1.1200 neighbourhood and sparked a subsequent leg lower to the mid-1.1000s.
Ahead in the session, another Eurogroup meeting is due, as well as the ECB announcement of the provision of emergency liquidity oriented to Greek banks, under its ELA mechanism.
EUR/USD levels to consider
The pair is now down 0.83% at 1.1071 with the next support at 1.1054 (low Jul.13) followed by 1.1030 (low Jul.10) and finally 1.0974 (low Jul.8). On the other hand, a breakout of 1.1198 (high Jul.13) would target 1.1217 (high Jul10) en route to 1.1234 (high Jun.24).
EUR/USD capped by 1.1200
The pair attempted a bull run in the wake of the EU Summit’s announcement of a deal with Greece, although the upside lost vigour in the 1.1200 neighbourhood and sparked a subsequent leg lower to the mid-1.1000s.
Ahead in the session, another Eurogroup meeting is due, as well as the ECB announcement of the provision of emergency liquidity oriented to Greek banks, under its ELA mechanism.
EUR/USD levels to consider
The pair is now down 0.83% at 1.1071 with the next support at 1.1054 (low Jul.13) followed by 1.1030 (low Jul.10) and finally 1.0974 (low Jul.8). On the other hand, a breakout of 1.1198 (high Jul.13) would target 1.1217 (high Jul10) en route to 1.1234 (high Jun.24).