8 Jun 2015
EUR/USD struggles to hold above 1.1200
FXStreet (Córdoba) - EUR/USD continues to trade above the 1.12 mark after hitting daily peaks in the 1.1225 neighbourhood, supported by German yields.
With no first-tier data scheduled for the rest of the day, attention remains on comments coming from the G7 summit. Although, nothing really new, Merkel reiterated they want Greece to stay in the Eurozone but Athens will have to implement measures.
Meanwhile US President Obama stated that he did not make the comment that the USD is strong as reported earlier.
Nevertheless, EUR/USD managed to reach a high of 1.1224 before finding resistance. At time of writing, the pair is trading at 1.1215, up 0.91% on the day, and having recovered from a post-NFP low of 1.1049.
EUR/USD technical levels
As for technical levels, immediate resistances are seen at 1.1279 (Jun 5 high) and 1.1300 (psychological level), while supports could be found at 1.1083 (daily low), 1.1065 (100-day SMA) and 1.1049 (Jun 5 low).
With no first-tier data scheduled for the rest of the day, attention remains on comments coming from the G7 summit. Although, nothing really new, Merkel reiterated they want Greece to stay in the Eurozone but Athens will have to implement measures.
Meanwhile US President Obama stated that he did not make the comment that the USD is strong as reported earlier.
Nevertheless, EUR/USD managed to reach a high of 1.1224 before finding resistance. At time of writing, the pair is trading at 1.1215, up 0.91% on the day, and having recovered from a post-NFP low of 1.1049.
EUR/USD technical levels
As for technical levels, immediate resistances are seen at 1.1279 (Jun 5 high) and 1.1300 (psychological level), while supports could be found at 1.1083 (daily low), 1.1065 (100-day SMA) and 1.1049 (Jun 5 low).