FXStreet (Edinburgh) – The shared currency keeps the trade around 1.1300 vs. the US dollar at the end of the week, with EUR/USD coming down from overnight tops in the 1.1400 area.
EUR/USD attention to Greece
Markets remain cautious and vigilant on the Greek headlines, in particular after the failed attempt to seal a deal at Thursday’s Eurogroup meeting and in light of the EU Leaders meeting on Monday, with Greece on top of the agenda.
Spot remains directionless around the critical support at 1.1300 the figure pending news and rumours from both the EU and Greece. In order to bring in some respite to the markets, the ECB has accepted raising the ELA’s ceiling for Greek banks today, responding to an urgent call by the Bank of Greece on Thursday, although by less than the €3 billion originally requested.
EUR/USD key levels
As of writing the pair is retreating 0.47% at 1.1305 and a breach of 1.1292 (low Jun.18) would target 1.1206 (low Jun.17) en route to 1.1189 (low Jun.15). On the flip side, the initial up barrier lines up at 1.1402 (high Jun.19) ahead of 1.1437 (high Jun.18) followed by 1.1450 (high May 18).
(Market News Provided by FXstreet)