FXStreet (Edinburgh) – The European currency is back below the 1.0900, with EUR/USD now navigating the 1.0880/85 band.
EUR/USD up and down on Greek rumours
With the frenzy following news of an imminent deal between Greece and its EU creditors already digested, the pair has now returned to the positive territory in the 1.0880 neighbourhood, where it attempts to consolidate.
Despite the (over) excitement amongst market participants, later news unveiled that the joy would be on the Greek side only, as many EU officials discarded the possibility of a deal in the very near term at least.
EUR/USD levels to consider
As of writing the pair is up 0.07% at 1.0881 with the next resistance at 1.0930 (high May 27) ahead of 1.0984 (high May 26) followed by 1.1062 (low May 20). On the downside, a break below 1.0819 (low May 27) would target 1.0800 (psychological level) en route to 1.0785 (low Apr.24).
(Market News Provided by FXstreet)