FXStreet (Guatemala) – EUR/USD is currently trading at 1.1372 with a high of 1.1402 and a low of 1.1358.
EUR/USD is showing us a bit of activity in early Asia with a spike to the 1.14 handle, scoring an early high here for Asian trade. Today has been an active day, as Valeria Bednarik, chief analyst described, with the greenback pulled and shoved post the FOMC yesterday and on going Greek uncertainties that are taking the headlines once again.
The Eurogroup meeting concluded without conclusions once again with there being little progress and European creditors are becoming impatient urging Athens to come forward and take the negotiations seriously while the IMF are fed up and have said that the June 30th deadline is THE deadline. So, all in all, the markets are preparing for a Grexit in fact while Athens are put in a corner.
Nonetheless, an emergency summit of eurozone heads has been scheduled for Monday at 1800BST. Whether a deal can be struck before the deadline is questionable, and in fact, Eurogroup’s Dijsselbloem said that it is unthinkable that one could be implemented before 30th June.
EUR/USD bulls last attempts?
Technically, and nevertheless, the euro has been played in the hands of the bulls and should a close above 1.1380/87, the recent high, be seen this week then focus turns to 1.1468, the May high and then on to 1.1534 being the February high.
However, Lee Hardman, currency analyst at the Bank of Tokyo Mitsubishi UFJ, explained that the euro is likely to remain within a consolidation phase against the US dollar in the week ahead and increased hype of a Grexit would weigh on the single currency.
(Market News Provided by FXstreet)