FXStreet (Edinburgh) – EUR/USD seems to be quite comfortable around the mid 1.1200s so far, stabilizing in the middle of the daily range as the session is drawing to a close.
EUR/USD keeps waiting for a Greek deal
It was a light session when comes to Greek headlines today, with both Greek and EU officials keeping alive hopes of a deal in the upcoming days. The initial sell off in the German Bunds propelled spot to session tops in the 1.1330 area via higher yields, although the upbeat momentum run out of steam in the European afternoon helped by the positive print from US retail sales during May.
With Friday upon us, Spanish inflation figures and EMU’s Industrial Production are due, albeit far from being market movers. Instead, the omnipresent Greece will remain in the centre of the debate along with the Reuters/Michigan index across the Atlantic.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.70% at 1.1244 with the next support at 1.1182 (low Jun.11) followed by 1.1087 (low Jun.8) and finally 1.1049 (low Jun.5). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).
(Market News Provided by FXstreet)