FXStreet (Barranquilla) – The Euro’s rally from 1.1200 against the US Dollar took a breath at 1.1290 where the pair found a selling interest that sent the pair back to 1.1250.
As previously reported, there is not much going on in the Greek front, just more of the same rumours and counter-rumours. According to Pablo Piovano from FXStreet, the EUR/USD’s advance was inspired by Bunds as the “buying interest seems to be picking up pace in response to higher yields in the German Bunds.”
The EUR/USD is opening its third positive week in a row; however, the pair remains trading in a big range between 1.1100 and 1.1370. Currently, EUR/USD is trading at 1.1271, up 0.06% on the day, having posted a daily high at 1.1288 and low at 1.1189.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
EUR/USD Forecast
According to the EUR/USD Forecast Poll, traders “do not believe in Euro.” The #FXpoll bets on “a continued decline in the EUR/USD. 1.0600 area in three months.”
Darren Sinden from Admiral Markets affirms that “Greece is still the determining factor.” Sinden remarks that the “Euro weakness could return if we don’t a deal soon.”
In the same line, Jameel Ahmad from FXTM remembers that “traders have really enjoyed the opportunity to enter selling positions on this pair each time it has approached the high 1.13’s.”
EUR/USD levels
If the EUR/USD consolidates levels above 1.1250, it will find resistances at 1.1290 and 1.1330. To the downside, supports are at 1.1240, 1.1200 and 1.1180.
(Market News Provided by FXstreet)