FXStreet (Edinburgh) – The shared currency is now gaining further momentum and is lifting EUR/USD back to the vicinity of 1.1100 the figure.
EUR/USD rebounds from 1.0950
After bottoming out in the mid-1.0900s in early trade, spot managed to gather traction and is now flirting with the 1.1100 handle. In the meantime, market participants continue to digest the recent events from Greece, with the bearish bias still prevailing in the pair.
Out of Greece, EMU’s Economic Sentiment and Business Climate is due next ahead of the preliminary inflation figures in Germany for the current month. Across the pond, US Pending Home Sales and the Manufacturing Index Survey by the Dallas Fed are also due.
EUR/USD key levels
At the moment the pair is down 0.83% at 1.1068 with the next support at 1.0954 (low Jun.29) ahead of 1.0918 (low Jun.2) and finally 1.0900 (psychological level). On the other hand, a surpass of 1.1113 (high Jun.29) would expose 1.1219 (high Jun.26) and then 1.1283 (high Jun.23).
(Market News Provided by FXstreet)