FXStreet (Edinburgh) – The shared currency is now accelerating its daily decline, pushing EUR/USD to fresh lows around 1.0820.
EUR/USD punished by Greece, USD
The prospects of a no-deal in the Greece-EU debt talks in the near term plus worrying news coming from the Greek banking system keep taking a toll on the single currency, which is already testing 5-week lows in the 1.0820/15 band.
Collaborating with the downbeat sentiment around the pair, the greenback, measured by the US Dollar Index, has managed not only to revert the initial negative trend but also to climb to fresh multi-week tops in the upper-97.00s.
EUR/USD levels to consider
As of writing the pair is down 0.38% at 1.0830 and a breach of 1.0819 (low May 27) would aim for 1.0800 (psychological level) and then 1.0785 (low Apr.24). On the upside, the initial hurdle aligns at 1.0930 (high May 27) ahead of 1.0984 (high May 26) followed by 1.1062 (low May 20).
(Market News Provided by FXstreet)