6 Jul 2015
EUR/USD deflates to 1.1030
FXStreet (Edinburgh) - The common currency is now returning to the 1.1030 area vs. the dollar, with EUR/USD coming down from the boundaries of 1.1100 the figure.
EUR/USD recovery capped near 1.1100
The rebound from daily lows near 1.0970 seems to have found tough resistance in the vicinity of the key 1.1100 barrier on Monday, concentrating the trade around the mid-1.1000s instead.
The usual plethora of rumours and comments from both Greek and EU officials keep flooding the markets since the victory of the ‘No’ vote on Sunday, while traders remains focused on tomorrow’s EU Leaders Summit and the ECB resolution on the ELA oriented to the Greek banks.
EUR/USD levels to consider
The pair is now retreating 0.59% at 1.1030 with the next support at 1.0970 (low Jul.6) followed by 1.0955 (low Jun.29) and finally 1.0900 (psychological level). On the other hand, a breakout of 1.1100 (psychological level) would open the door to 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
EUR/USD recovery capped near 1.1100
The rebound from daily lows near 1.0970 seems to have found tough resistance in the vicinity of the key 1.1100 barrier on Monday, concentrating the trade around the mid-1.1000s instead.
The usual plethora of rumours and comments from both Greek and EU officials keep flooding the markets since the victory of the ‘No’ vote on Sunday, while traders remains focused on tomorrow’s EU Leaders Summit and the ECB resolution on the ELA oriented to the Greek banks.
EUR/USD levels to consider
The pair is now retreating 0.59% at 1.1030 with the next support at 1.0970 (low Jul.6) followed by 1.0955 (low Jun.29) and finally 1.0900 (psychological level). On the other hand, a breakout of 1.1100 (psychological level) would open the door to 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).