FXStreet (Edinburgh) – The bid tone around the common currency is gathering pace now, lifting EUR/USD to session highs in the vicinity of 1.1290.
EUR/USD inspired by Bunds
There is not much going on in the Greek front at the moment, just more of the same rumours and counter-rumours. In the same direction, the pair paid little no none attention to the testimony by President Draghi before the European Parliament, while the buying interest seems to be picking up pace in response to higher yields in the German Bunds.
In the data front, EMU’s trade surplus came in above consensus, while another set of weaker than expected releases in the US economy removed initial tailwinds from the greenback.
EUR/USD key levels
As of writing the pair is advancing 0.10% at 1.1278 with the next hurdle at 1.1297 (high Jun.12) en route to 1.1334 (high Jun.11) and finally 1.1387 (high Jun.10). On the other hand, a breakdown of 1.1189 (low Jun.15) would aim for 1.1151 (low Jun.12) and then 1.1087 (low Jun.8).
(Market News Provided by FXstreet)