FXStreet (Mumbai) – The EUR/USD pair is trading around 1.14 levels ahead of the US session, as traders ignored the comments on Greece from the IMF chief Christine Lagarde.
No extension to Greece – IMF
The USD selling has halted ahead of the key economic data releases in the US. Meanwhile, the IMF comments that Greece would not be granted an extension after the June 30 deadline has been ignored by the markets. The pair has managed to sustain above 1.1390.
The traders have also ignored a larger drop in the German yields that has widened US-German 10-year yield spread in favour of the US dollar. Ahead in the day, the pair could be influenced by the US data – weekly jobless claims and CPI.
EUR/USD Technical Levels
The immediate resistance is located at 1.1465, above which gains could be extended to 1.1532 (Feb 3 high). On the flip side, a break below 1.1384 (June 10 low), under which the pair could target 1.1293 (23.6% R of 1.3991-1.0461).
(Market News Provided by FXstreet)