FXStreet (Edinburgh) – EUR/USD now marches unmotivated around the 1.1200 handle following another fiasco at today’s Eurogroup meeting.
EUR/USD vigilant on Greece
Hopefully it remains only a few days until all this Greek burlesque comes to an end. In the meantime, today’s failure to clinch a deal between Greek authorities and the EU institutions has prompted both negotiating teams to hold more meetings in the upcoming days in order to find common ground ahead of the June 30th deadline. Good luck with that.
One has to wonder, however, if the differences are not only persistent but also seem wider by now, what can Greek/EU officials offer in five days that have not been able to discuss in the recent months? The whole debt re-negotiation is no less that pathetic and a waste of time. Of note, however, are the curious resilience of spot at current levels and its ability to isolate from the Greek drama.
EUR/USD levels to consider
As of writing the pair is losing 0.04% at 1.1201 with the next resistance at 1.1229 (high Jun.25) followed by 1.1288 (Tenkan Sen) and then 1.1292 (low Jun.19). On the flip side, a break below 1.1154 (low Jun.24) would aim for 1.1135 (low Jun.23) and finally 1.1087 (low Jun.8).
(Market News Provided by FXstreet)