FXStreet (Edinburgh) – The recovery in the euro remains alive on Monday, with EUR/USD now approaching the 1.1090 area.
EUR/USD focus on Hollande-Merkel meeting
While markets participants keep digesting yesterday’s results in Greece, the attention has now turned to the meeting between President F.Hollande and Chancellor A.Merkel in Paris, previous to Tuesday’s EU Leaders Summit.
In the meantime, spot continues to reclaim ground lost following the recent Greek events, navigating closer to the critical 1.1100 handle after bottoming out in the 1.0970 area in early trade.
EUR/USD levels to consider
The pair is now retreating 0.12% at 1.1082 with the next support at 1.0970 (low Jul.6) followed by 1.0955 (low Jun.29) and finally 1.0900 (psychological level). On the other hand, a breakout of 1.1100 (psychological level) would open the door to 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
(Market News Provided by FXstreet)