FXStreet (Edinburgh) – The decline of EUR/USD seems to have found decent support around the 1.1210 on Tuesday.
EUR/USD worried about Greece
Mounting concerns on the Greece-EU debt talks continue to hurt the sentiment around the single currency today, forcing spot to surrender part of Monday’s strong gains. Market participants remain vigilant on any Greek development, specially after the country submitted new proposals to the EU officials during the European morning, all in light of the key meeting between Merkel, Tsipras and Hollande to be held tomorrow.
Nothing to write home about from the data front, with the second revision of EMU’s GDP figures matching expectations during the first quarter (0.4% QoQ, 1.0% YoY).
EUR/USD levels to watch
The pair is now retreating 0.26% at 1.1261 and a breach of 1.1214 (low Jun.9) would target 1.1179 (low Jun.4) en route to 1.1084 (low Jun.8). On the flip side, the initial up barrier aligns at 1.1346 (high Jun.9) followed by 1.1383 (high May 13) and then 1.1400 (psychological level).
(Market News Provided by FXstreet)