Back
20 May 2015
EUR/USD recovery stalled near 1.1150
FXStreet (Edinburgh) - The euro’s attempt to clinch higher levels vs. the greenback appears to be limited around the mid-1.1100s so far, with EUR/USD now easing towards 1.1115/10.
EUR/USD lower on USD, Greece
The solid pace of the US dollar keeps the demand for the single currency subdued, while capping at the same time occasional bullish attempts. Collaborating with today’s decline, Greek jitters are on the rise fuelled by rumours citing the Hellenic country would be unable to repay the IMF without fresh funds.
Fanning the flames, the likeliness of deposits freeze and capital controls keep building up, while the ECB will decide in early June whether to keep using its ELA scheme on Greek banks.
EUR/USD relevant levels
As of writing the pair is down 0.42% at 1.1102 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
EUR/USD lower on USD, Greece
The solid pace of the US dollar keeps the demand for the single currency subdued, while capping at the same time occasional bullish attempts. Collaborating with today’s decline, Greek jitters are on the rise fuelled by rumours citing the Hellenic country would be unable to repay the IMF without fresh funds.
Fanning the flames, the likeliness of deposits freeze and capital controls keep building up, while the ECB will decide in early June whether to keep using its ELA scheme on Greek banks.
EUR/USD relevant levels
As of writing the pair is down 0.42% at 1.1102 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).