Back
9 Feb 2015
EUR/USD directionless above 1.1300
FXStreet (Edinburgh) - Choppy session for EUR/USD so far, trading without a clear direction around the 1.1315/20 band.
EUR/USD focus on Greece
The focus continues to be (and will remain for the time being) on the developments from Greece and its efforts to re-negotiate its debt. In the meantime, the banking sector dragged the Greek stock market to a drop of 5%, as investors keep gauging the possibility of the country to leave the euro bloc.
According to recent rumours, Greek officials will be looking for a ‘bridge loan’, although any decision will have to wait for the Eurogroup’s meeting on Wednesday and the EU leaders summit on Thursday.
Data wise in the US economy, the Fed’s Labour Market Conditions Index came in at 4.9 for the last month, down from December’s 7.3 (revised).
EUR/USD levels to watch
As of writing the pair is up 0.05% at 1.1327 and a break below 1.1270 (low Feb.9) would open the door to 1.1265 (61.8% of 1.1098-1.1534) and then 1.1224 (low Jan.27). On the other hand, the immediate support aligns at 1.1359 (high Feb.9) followed by 1.1400 (psychological level) and finally 1.1462 (21-d MA).
EUR/USD focus on Greece
The focus continues to be (and will remain for the time being) on the developments from Greece and its efforts to re-negotiate its debt. In the meantime, the banking sector dragged the Greek stock market to a drop of 5%, as investors keep gauging the possibility of the country to leave the euro bloc.
According to recent rumours, Greek officials will be looking for a ‘bridge loan’, although any decision will have to wait for the Eurogroup’s meeting on Wednesday and the EU leaders summit on Thursday.
Data wise in the US economy, the Fed’s Labour Market Conditions Index came in at 4.9 for the last month, down from December’s 7.3 (revised).
EUR/USD levels to watch
As of writing the pair is up 0.05% at 1.1327 and a break below 1.1270 (low Feb.9) would open the door to 1.1265 (61.8% of 1.1098-1.1534) and then 1.1224 (low Jan.27). On the other hand, the immediate support aligns at 1.1359 (high Feb.9) followed by 1.1400 (psychological level) and finally 1.1462 (21-d MA).