FXStreet (Edinburgh) – The single currency is posting meager gains vs. the dollar in the European morning, with EUR/USD navigating the mid-1.1200s so far.
EUR/USD focus on EMU data, FOMC
The pair remains stuck around 1.1250 in which already is the usual sideline pattern ahead of the FOMC statement due this evening in Europe. Apart from the Fed meeting and Yellen’s press conference, the final inflation figures in the euro area during May are also due, although no changes are expected from the preliminary readings: headline CPI at 0.3% YoY and Core CPI at 0.9% YoY.
On the Greek front, there is no news following the plethora of rumours on Tuesday, with market participants now turning their attention to the key Eurogroup meeting tomorrow.
EUR/USD relevant levels
As of writing the pair is up 0.02% at 1.1251 with the next resistance at 1.1331 (high Jun.16) ahead of 1.1334 (high Jun.11) and finally 1.1387 (high Jun.10). On the flip side, a breakdown of 1.1205 (low Jun.16) would open the door to 1.1189 (low Jun.15) and then 1.1151 (low Jun.12).
(Market News Provided by FXstreet)