FXStreet (Edinburgh) – The shared currency has managed to recover from the knee-jerk to the 1.1220 area vs. the dollar, now pushing EUR/USD back to the 1.1240 region.
EUR/USD in red ahead of Fed, Yellen
A bout of buying interest around the greenback has suddenly relegated spot to session lows in the 1.1220 area, albeit it is now back on track to recover the positive territory near 1.1250. The pair will remain under scrutiny however, in light of the upcoming FOMC statement and the subsequent press conference by Chairwoman J.Yellen.
On the Greek front, the European Central Bank has raised the ELA ceiling to Greek banks to €84.1 billion from €83 billion. Effervescence however is not giving up ahead of the Eurogroup meeting tomorrow, as the Greek Parliament deemed the Troika debts as ‘illegal’ following a negotiator’s argument against further pension cuts.
EUR/USD relevant levels
As of writing the pair is up 0.02% at 1.1252 with the next resistance at 1.1293 (high Jun.17) ahead of 1.1331 (high Jun.16) and finally 1.1334 (high Jun.11). On the flip side, a breakdown of 1.1225 (low Jun.17) would open the door to 1.1205 (low Jun.16) on its way to 1.1189 (low Jun.15).
(Market News Provided by FXstreet)