FXStreet (Edinburgh) – The common currency remains entrenched in the red ground vs. the greenback at the beginning of the week, with EUR/USD easing to the 1.1010 area.
EUR/USD looks to the ECB
The sentiment towards the risk aversion remains well and sound on Monday, with market participants now focusing on the ECB Council meeting regarding the provision of liquidity to the Greek banking system via the ELA mechanism.
Nothing relevant in the data front, with EMU’s Sentix index coming in better than expected for the month of July, and Markit’s Services PMI, ISM Non Manufacturing and the Fed’s Labour Market Conditions Index due later across the Atlantic.
EUR/USD levels to consider
The pair is now retreating 0.72% at 1.1016 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)