9 Jul 2015
EUR/USD turns negative near 1.1040
FXStreet (Edinburgh) - The shared currency has surrendered the initial advance vs. the dollar and is now dragging EUR/USD to session lows in the mid-1.1000s.
EUR/USD attention to Greece
Spot has quickly faded the spike to daily tops around 1.1130 in early trade, dropping nearly a big-figure as sellers seem to have stepped in. Markets will remain vigilant on the Greek headlines however, while PM A.Tsipras is expected to deliver a fresh list of proposals, to be evaluated by the EU officials and oriented to clinch a long-waited deal probably on Sunday at the EU Summit.
Nothing to write home about from today’s calendar, with German trade surplus coming in at €22.8 billion during May vs. April’s €21.5 billion. Across the pond, the weekly report on the labour market and the speech by Fed’s E.George are also due.
EUR/USD levels to consider
The pair is now dropping 0.32% at 1.1040 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
EUR/USD attention to Greece
Spot has quickly faded the spike to daily tops around 1.1130 in early trade, dropping nearly a big-figure as sellers seem to have stepped in. Markets will remain vigilant on the Greek headlines however, while PM A.Tsipras is expected to deliver a fresh list of proposals, to be evaluated by the EU officials and oriented to clinch a long-waited deal probably on Sunday at the EU Summit.
Nothing to write home about from today’s calendar, with German trade surplus coming in at €22.8 billion during May vs. April’s €21.5 billion. Across the pond, the weekly report on the labour market and the speech by Fed’s E.George are also due.
EUR/USD levels to consider
The pair is now dropping 0.32% at 1.1040 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).