9 Jul 2015
EUR/USD keeps lows in the 1.1030 area
FXStreet (Edinburgh) - The demand for the European currency remains subdued on Thursday, with EUR/USD navigating session lows around 1.1035/30.
EUR/USD focused on Greece
The pair is now looking to consolidate the recent drop from intraday tops near 1.1130 in early trade, boosted by the initial favourable sentiment towards the riskier assets.
The Greek front remains quite calm so far following yesterday’s request of a third bailout programme by A.Tsipras, although EU officials continue to wait for the new set of Greek proposals due today.
Only US data releases are expected ahead in the session, with Initial Claims and speeches by Fed’s N.Kocherlakota and E.George. Previously in Germany, May’s trade surplus widened to €22.8 billion vs. €21.5 billion previous.
EUR/USD levels to consider
The pair is now dropping 0.38% at 1.1033 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).
EUR/USD focused on Greece
The pair is now looking to consolidate the recent drop from intraday tops near 1.1130 in early trade, boosted by the initial favourable sentiment towards the riskier assets.
The Greek front remains quite calm so far following yesterday’s request of a third bailout programme by A.Tsipras, although EU officials continue to wait for the new set of Greek proposals due today.
Only US data releases are expected ahead in the session, with Initial Claims and speeches by Fed’s N.Kocherlakota and E.George. Previously in Germany, May’s trade surplus widened to €22.8 billion vs. €21.5 billion previous.
EUR/USD levels to consider
The pair is now dropping 0.38% at 1.1033 with the next support at 1.0974 (low Jul.8) followed by 1.0916 (low Jul.7) and then 1.0900 (psychological level). On the flip side, a breakout of 1.1126 (high Jul.9) would aim for 1.1171 (high Jul.1) and then 1.1234 (high Jun.24).