17 Feb 2015
EUR/USD recovers, hits fresh session highs
FXStreet (Mumbai) - EUR/USD recovered losses and traded flat in the mid-Asian session, pulling away from day’s low reached after talks between Greek officials and European finance ministers ended in deadlock overnight with both sides apparently refusing to accepts the terms of the Greece bail-out.
EUR/USD rises from 1.1322 levels
The EUR/USD now trades flat at fresh session highs of 1.1356, holding firmly above 1.13 barrier. EUR/USD reversed overnight losses, although held steady as Greek-EU failed talks continue to weigh on the markets, dampening investors’ sentiments. Meanwhile, the meeting in Brussels saw no deal reached yet again and Greece will soon have no money to pay its foreign debt. The current bailout program between Greece and the EU is set to expire on February 28.
EUR/USD is expected to remain pressured on uncertainties surrounding Greece’s bailout and a possible Grexit which may drag the euro across the board. Moreover, traders now shift their attention towards German and the EMU ZEW Economic Sentiment for further cues on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1369 (Jan 29 High) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 (Feb 12 Low) levels, below which it could extend losses to 1.1278 (Feb 11 Low) levels.
EUR/USD rises from 1.1322 levels
The EUR/USD now trades flat at fresh session highs of 1.1356, holding firmly above 1.13 barrier. EUR/USD reversed overnight losses, although held steady as Greek-EU failed talks continue to weigh on the markets, dampening investors’ sentiments. Meanwhile, the meeting in Brussels saw no deal reached yet again and Greece will soon have no money to pay its foreign debt. The current bailout program between Greece and the EU is set to expire on February 28.
EUR/USD is expected to remain pressured on uncertainties surrounding Greece’s bailout and a possible Grexit which may drag the euro across the board. Moreover, traders now shift their attention towards German and the EMU ZEW Economic Sentiment for further cues on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1369 (Jan 29 High) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 (Feb 12 Low) levels, below which it could extend losses to 1.1278 (Feb 11 Low) levels.