FXStreet (Mumbai) – The bid tone on the USD recovered amid lacklustre trading volumes, taking the EUR/USD pair back to 1.1095-1.11 levels.
Rejected at 1.1117
The pair ran into offers at the high of 1.1117, post which it fell below its 5-DMA at 1.1114 levels. The common currency remained ignorant to the string of Eurozone economic data – PMI service indices, retail sales.
With US markets closed today, the investors have little to react to as we move into the weekend. The focus remains entirely on the Greek referendum scheduled on Sunday. Consequently, a range bound trading could be seen ahead of the weekend.
EUR/USD Technical Levels
The pair currently trades around 1.1096. The immediate resistance is seen at 1.1130, above which the pair could rise to 1.1167. On the flip side, a break below 1.1082 could push the pair down to the support at 1.1050.
(Market News Provided by FXstreet)