FXStreet (Edinburgh) – The shared currency is now giving away part of the recent gains vs. the greenback, with EUR/USD easing to the 1.1030 area.
EUR/USD stronger on Greece
Once again (and again and again), Greek rumours are doing the rounds. This time, apparently, a deal between Greece and its EU creditors would be imminent after Greek PM A.Tsipras has submitted a list of proposals to be assessed by the Troika. The pair managed to climb to the critical resistance band at 1.1050, although the upside seems to have lost some momentum for the time being.
Next on tap for the pair will be US Factory Orders, where consensus expects a flat reading during April, down from March’s 2.1% advance.
EUR/USD levels to watch
The pair is gaining 1.01% at 1.1037 with the next resistance at 1.1057 (high Jun.2) ahead of 1.1062 (low May 20) and then 1.1084 (100-d MA). On the flip side, a breach of 1.0915 (low Jun.2) would target 1.0887 (low Jun.1) en route to 1.0867 (low May 28).
(Market News Provided by FXstreet)