FXStreet (Edinburgh) – EUR/USD is now attempting a rebound to the 1.0955/60 area following the US releases.
EUR/USD extends the recovery
After dropping to the 1.0890 area, EUR/USD has managed to regain the 1.0900 handle and climb to the mid-1.0900s afterwards. A softer print in the US Personal Spending during May is currently sustaining the EUR recovery ahead of more relevant US data due later. In fact, Personal Income rose 0.4% inter-month during April while Personal Spending came in flat, missing forecasts for 0.2% gain.
Nothing new from the Greek front, with recent rumours that the country could clinch a deal being rapidly denied by EU officials.
EUR/USD levels to watch
The pair is now losing 0.29% at 1.0954 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).
(Market News Provided by FXstreet)