FXStreet (Edinburgh) – EUR/USD keeps the trade above the 1.1300 handle at the beginning of the European session, while Greek headlines remain poised to dominate the sentiment once again.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “has briefly traded above the 1.1380 4th June high – this 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”.
Furthermore, FX Strategist at OCBC Bank Emmanuel Ng suggested “we stay with a buy-dips posture and continue to refrain from attempting to pursue the pair higher at this juncture within a 1.1120-1.1400 range in the near term”.
(Market News Provided by FXstreet)