FXStreet (Edinburgh) – The single currency is recovering part of yesterday’s sharp pullback, pushing EUR/USD back to the vicinity of 1.1200 the figure.
EUR/USD attention to IFO, Eurogroup
While hopes on a deal between Greece and its EU counterpart continues to sustain the buying interest around the euro, market participants will also look to the results from the German IFO, where consensus expects lower prints for the current month.
In the meantime, Greek PM A.Tsipras is expected to meet ECB’s Draghi, IMF’s Lagarde and EC’s Juncker previous to the Eurogroup meeting.
Across the pond, another revision of the US GDP Annualized is due followed by inflation figures gauged by the PCE.
EUR/USD levels to consider
As of writing the pair is up 0.24% at 1.1195 and a breakout of 1.1349 (high Jun.23) would open the door to 1.1404 (high Jun.22) and finally 1.1421 (high Jun.18). On the flip side, the immediate support lines up at 1.1154 (low Jun.24) followed by 1.1135 (low Jun.23) and then 1.1087 (low Jun.8).
(Market News Provided by FXstreet)