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6 May 2015
EUR/USD finds support at 1.1200
FXStreet (Edinburgh) - The European currency is now extending the rebound from the boundaries of 1.1200 the figure, lifting EUR/USD to the 1.1225/30 band.
EUR/USD softer on Greece, EMU data
The pair has surrendered part of the earlier gains following less auspicious headlines from Greece, where default risks keep rising despite today’s €200m repayment to the IMF.
The upside ha also lost momentum after retail sales in the euro region contracted more than expected during March (0.8%), casting doubts over the sustainability of the recovery in Euroland. Previously, the final figures of Services PMI in the region showed mixed results with German results coming in below estimates.
EUR/USD relevant levels
The pair is advancing 0.37% at 1.1228 with the next resistance at 1.1272 (high May 6) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26). On the flip side, a breakdown of 1.1175 (low May 6) would aim for 1.1066 (low May 5) and finally 1.0959 (low Apr.29).
EUR/USD softer on Greece, EMU data
The pair has surrendered part of the earlier gains following less auspicious headlines from Greece, where default risks keep rising despite today’s €200m repayment to the IMF.
The upside ha also lost momentum after retail sales in the euro region contracted more than expected during March (0.8%), casting doubts over the sustainability of the recovery in Euroland. Previously, the final figures of Services PMI in the region showed mixed results with German results coming in below estimates.
EUR/USD relevant levels
The pair is advancing 0.37% at 1.1228 with the next resistance at 1.1272 (high May 6) ahead of 1.1291 (high May 1) and then 1.1380 (high Feb.26). On the flip side, a breakdown of 1.1175 (low May 6) would aim for 1.1066 (low May 5) and finally 1.0959 (low Apr.29).