FXStreet (Edinburgh) – The shared currency has now returned to the negative territory vs. the greenback, pushing EUR/USD to the area of session lows near 1.1180.
EUR/USD swings on Greek headlines
The pair is now losing some initial vigour and deflating to sub-1.1200 levels, while concerns over a potential no-deal at today’s Eurogroup meeting keeps spooking investors.
Fanning the flames, EU creditors has given Greek PM A.Tsipras until 10am GMT to come up with a new set of proposals, in light of the Eurogroup meeting due this afternoon.
In the data space, nothing scheduled in Euroland, whereas Initial Claims, PCE, Personal Spending/Income and Markit’s Services PMI are all due in the US calendar.
EUR/USD levels to consider
As of writing the pair is retreating 0.12% at 1.1192 with a breach of 1.1154 (low Jun.24) would aim for 1.1135 (low Jun.23) and finally 1.1087 (low Jun.8). On the flip side, the initial up barrier aligns at 1.1221 (high Jun.25) followed by 1.1288 (Tenkan Sen) and then 1.1292 (low Jun.19).
(Market News Provided by FXstreet)