FXStreet (Edinburgh) – The common currency keeps the daily range vs. the US dollar on Wednesday, with EUR/USD looking to stabilize around the 1.1300 region.
EUR/USD down from 1.1380
The pair now seems to consolidate around the 1.1300 mark after climbing as high as 1.1380 following the Kuroda-effect during this morning. In the meantime, a cautious tone now seems to prevail amongst market participants ahead of the meeting between Merkel, Tsipras and Hollande to be held in the European evening.
Spot manages to remain in the positive ground so far, in spite of the generalized confusion gyrating around the EU-Greek debt talks, which faces critical days ahead. Recent rumours hovering over the markets have mentioned that Germany could offer Greece a staggered deal, although further news will surely arrive in the wake of the mentioned meeting.
EUR/USD levels to watch
As of writing, the pair is now advancing 0.20% at 1.1305 with the next hurdle at 1.1387 (high Jun.10) followed by 1.1400 (psychological level) and then 1.1450 (high May 18). On the flip side, a breakdown of 1.1271 (low Jun.10) would open the door to 1.1214 (low Jun.9) and finally 1.1179 (low Jun.4).
(Market News Provided by FXstreet)