FXStreet (Edinburgh) – EUR/USD keeps the negative ground in the mid-1.1200s so far, pending cues for Greek headlines in an otherwise very light session data wise.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested “With news flow surrounding Greece curdling slightly, the EUR may be expected to remain under pressure, especially if bund yields remain subdued into the weekend. If 1.1200 gives way, expect the pair to gravitate towards its 100-day MA (1.1062) while 1.1400 is still expected to cap”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “continues to struggle at the 1.1380/87 resistance (4th June high) – the recent breach of the 23014-2015 downtrend has not been sustained to leave our outlook unchanged. The near term risk still remains for failure and a slide to the 1.1052 pivot then the 1.0845/19”.
(Market News Provided by FXstreet)