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11 May 2015
EUR/USD stuck around 1.1160
FXStreet (Edinburgh) - EUR/USD can’t gather enough traction on Monday, keeping the trade in the 1.1160/70 band so far.
EUR/USD softer on Greece
The uncertainty around Greece and the potential outcome from today’s Eurogroup meeting keep weighing on the common currency, relegating spot to the area of 1.1160/70. Still hours before the meeting kicks in, although market participants remain vigilant on developments, comments and rumours from both EU and Greek officials. Latest news points to a meeting between Y.Varoufakis and its German peer W.Schauble before the Eurogroup meeting starts.
Across the pond, the only release will be the Labour Market Conditions Index (LBCI) following April’s Non-farm Payrolls (223K).
EUR/USD levels to watch
The pair is now losing 0.35% at 1.1163 with the initial support at 1.1100 (psychological level) followed by 1.1066 (low May.5) and finally 1.0959 (low Apr.29). On the flip side, a breakout of 1.1207 (high May 11) would target 1.1290 (high May 8) en route to 1.1370 (high May.6).
EUR/USD softer on Greece
The uncertainty around Greece and the potential outcome from today’s Eurogroup meeting keep weighing on the common currency, relegating spot to the area of 1.1160/70. Still hours before the meeting kicks in, although market participants remain vigilant on developments, comments and rumours from both EU and Greek officials. Latest news points to a meeting between Y.Varoufakis and its German peer W.Schauble before the Eurogroup meeting starts.
Across the pond, the only release will be the Labour Market Conditions Index (LBCI) following April’s Non-farm Payrolls (223K).
EUR/USD levels to watch
The pair is now losing 0.35% at 1.1163 with the initial support at 1.1100 (psychological level) followed by 1.1066 (low May.5) and finally 1.0959 (low Apr.29). On the flip side, a breakout of 1.1207 (high May 11) would target 1.1290 (high May 8) en route to 1.1370 (high May.6).