FXStreet (Edinburgh) – The single currency is now losing part of its recent shine, dragging EUR/USD to challenge session lows in the 1.1340 region.
EUR/USD shed gains on EU-Greece talks
The pair has given away almost a big figure since today’s multi-week tops around 1.1440 in response to another failure from the EU officials and Greece to clinch a deal on the debt re-negotiation.
The pair’s steep upside has been supported by the recent neutral tone from the FOMC meeting and lower-than-expected CPI figures in the US economy, despite some other indicators have come in above consensus.
At the Eurogroup’s press conference, J.Dijsselbloem reiterated that the ball now is in Greece’s court and it is up to the Greek authorities to come up with a more credible set of proposals.
EUR/USD key levels
As of writing the pair is advancing 0.23% at 1.1364 with the next resistance at 1.1437 (high Jun.18) followed by 1.1450 (high May 18) and finally 1.1486 (high Feb.6). On the flip side, a breach of 1.1330 (low Jun.18) would target 1.1277 (10-d MA) en route to 1.1206 (low Jun.17).
(Market News Provided by FXstreet)