FXStreet (Mumbai) – The offers continued to push the EUR/USD pair lower to 1.0859 after having erased gains from the high of 1.0830 levels.
USD bulls in control
The USD bulls regained control of the pair after a failure at 1.0927 pushed the currency pair below 1.09 levels. The common currency is being sold as Greek drama continues to unfold with no deal in sight.
Meanwhile, the 10-year German yield dropped 2.6 basis points, while the 10-year Treasury yield inched higher by 2 basis points, thereby titling the yield spread in favor of the USD.
EUR/USD Technical Levels
The immediate support is seen at 1.0844 (61.8% R of 1.0461-1.1465), under which losses could be extended to 1.0801. On the flip side, a rise above 1.0897 could see the pair re-test of 1.0930.
(Market News Provided by FXstreet)