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11 May 2015
EUR/USD in red around 1.1170
FXStreet (Edinburgh) - The European currency remains mired in the negative territory at the beginning of the week, now taking EUR/USD to the area of 1.1165/70.
EUR/USD attention to Greece
Effervescence has started to grow bigger ahead of the Eurogroup meeting today, with Greek officials already threatening not to make tomorrow’s loan repayment to the IMF of €780 million if no progress is made at today’s gathering.
While the Greek drama keep weighing on the euro and the European markets in general, the ECB remains reluctant to lift its limits on Greek banks, all depending on today’s results from the meeting.
EUR/USD levels to watch
The pair is now losing 0.28% at 1.1172 with the initial support at 1.1100 (psychological level) followed by 1.1066 (low May.5) and finally 1.0959 (low Apr.29). On the flip side, a breakout of 1.1207 (high May 11) would target 1.1290 (high May 8) en route to 1.1370 (high May.6).
EUR/USD attention to Greece
Effervescence has started to grow bigger ahead of the Eurogroup meeting today, with Greek officials already threatening not to make tomorrow’s loan repayment to the IMF of €780 million if no progress is made at today’s gathering.
While the Greek drama keep weighing on the euro and the European markets in general, the ECB remains reluctant to lift its limits on Greek banks, all depending on today’s results from the meeting.
EUR/USD levels to watch
The pair is now losing 0.28% at 1.1172 with the initial support at 1.1100 (psychological level) followed by 1.1066 (low May.5) and finally 1.0959 (low Apr.29). On the flip side, a breakout of 1.1207 (high May 11) would target 1.1290 (high May 8) en route to 1.1370 (high May.6).