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22 Jun 2015
EUR/USD drops to 1.1340, EU Summit eyed
FXStreet (Edinburgh) - The shared currency keeps the volatile mood on Monday, now taking EUR/USD back to the 1.1340 area.
EUR/USD back to the red ground
The pair has returned to the red territory so far while market participants keep waiting for the outcome of the EU Leaders Summit. The sentiment remains intact pending further news or constructive comments (if any at all) from negotiators and officials regarding the very next future of the debt renegotiation. It is worth noting however, that EU officials have already discarded the likeliness of clinching a deal tonight, postponing any other decisive meeting for the upcoming days.
Let’s leave Greece for a moment. Looking to Tuesday’s docket in the euro region, preliminary prints of manufacturing and services PMIs for the current month will be the main highlight, while Durable Goods Orders, New Home Sales and Markit’s Manufacturing PMI are all due across the Atlantic.
EUR/USD levels to consider
Anyway, the pair is down 0.06% at 1.1346 with the immediate support at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17). On the flip side, a break above 1.1411 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18).
EUR/USD back to the red ground
The pair has returned to the red territory so far while market participants keep waiting for the outcome of the EU Leaders Summit. The sentiment remains intact pending further news or constructive comments (if any at all) from negotiators and officials regarding the very next future of the debt renegotiation. It is worth noting however, that EU officials have already discarded the likeliness of clinching a deal tonight, postponing any other decisive meeting for the upcoming days.
Let’s leave Greece for a moment. Looking to Tuesday’s docket in the euro region, preliminary prints of manufacturing and services PMIs for the current month will be the main highlight, while Durable Goods Orders, New Home Sales and Markit’s Manufacturing PMI are all due across the Atlantic.
EUR/USD levels to consider
Anyway, the pair is down 0.06% at 1.1346 with the immediate support at 1.1312 (low Jun.22) followed by 1.1300 (psychological level) and then 1.1206 (low Jun.17). On the flip side, a break above 1.1411 (high Jun.22) would target 1.1421 (high Jun.18) en route to 1.1450 (high May 18).