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10 Feb 2015
EUR/USD breaches 1.1300
FXStreet (Edinburgh) - The single currency is now losing the grip, sending EUR/USD to test session lows in the 1.1280 region.
EUR/USD weaker on dollar strength
The bid tone seems to have re-emerged around the greenback now, hurting the riskier assets and relegating spot to the lower band of the intraday range. Empty calendar in the euro area will leave the EUR to the mercy of the Greek headlines as the main catalyst in the very near term.
Ahead in the week, tomorrow’s Eurogroup meeting and Thursday’s EU Leaders’ Summit will focus on the Greek proposal of a ‘bridge-loan’ until September, in order to face the country’s funding needs.
EUR/USD key levels
At the moment the pair is down 0.27% at 1.1290 and a breakdown of 1.1270 (low Feb.9) would expose 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27). On the upside, the initial hurdle lines up at 1.3151 (10-d MA) ahead of 1.1359 (high Feb.9) and then 1.1400 (psychological level).
EUR/USD weaker on dollar strength
The bid tone seems to have re-emerged around the greenback now, hurting the riskier assets and relegating spot to the lower band of the intraday range. Empty calendar in the euro area will leave the EUR to the mercy of the Greek headlines as the main catalyst in the very near term.
Ahead in the week, tomorrow’s Eurogroup meeting and Thursday’s EU Leaders’ Summit will focus on the Greek proposal of a ‘bridge-loan’ until September, in order to face the country’s funding needs.
EUR/USD key levels
At the moment the pair is down 0.27% at 1.1290 and a breakdown of 1.1270 (low Feb.9) would expose 1.1262 (low Jan.29) and finally 1.1224 (low Jan.27). On the upside, the initial hurdle lines up at 1.3151 (10-d MA) ahead of 1.1359 (high Feb.9) and then 1.1400 (psychological level).