9 Jun 2015
EUR/USD reverts to 1.1260
FXStreet (Edinburgh) - The shared currency is now losing the grip vs. the greenback, dragging EUR/USD to test daily lows in the vicinity of 1.1260.
EUR/USD rejected from 1.1350
Spot surrendered nearly a big figure since intraday tops near 1.1350 so far, while Greek headlines remain on the fore of the pair’s drivers in the near term. Early comments by Bank of Finland’s Governor and ECB member E.Liikanen slipped the possibility that the current ‘quantitative easing’ programme could be extended if necessary, bringing in some selling interest and pulling back spot from the upper bound of the range.
The recent upside in the pair seems to be taking a respite now, after a renewed sell off in the German Bunds and the persistent extreme positioning prompted spot to recover the recent pullback post-Payrolls.
Next of relevance in the pair will be the second revision of the GDP figures in Euroland during the first quarter, expected at 0.4% QoQ and 1.0% over the last twelve months.
EUR/USD levels to watch
The pair is now retreating 0.23% at 1.1265 and a breach of 1.1179 (low Jun.4) would open the door to 1.1084 (low Jun.8) and finally 1.1049 (low Jun.5). On the flip side, the initial up barrier aligns at 1.1346 (high Jun.9) followed by 1.1383 (high May 13) and then 1.1400 (psychological level).
EUR/USD rejected from 1.1350
Spot surrendered nearly a big figure since intraday tops near 1.1350 so far, while Greek headlines remain on the fore of the pair’s drivers in the near term. Early comments by Bank of Finland’s Governor and ECB member E.Liikanen slipped the possibility that the current ‘quantitative easing’ programme could be extended if necessary, bringing in some selling interest and pulling back spot from the upper bound of the range.
The recent upside in the pair seems to be taking a respite now, after a renewed sell off in the German Bunds and the persistent extreme positioning prompted spot to recover the recent pullback post-Payrolls.
Next of relevance in the pair will be the second revision of the GDP figures in Euroland during the first quarter, expected at 0.4% QoQ and 1.0% over the last twelve months.
EUR/USD levels to watch
The pair is now retreating 0.23% at 1.1265 and a breach of 1.1179 (low Jun.4) would open the door to 1.1084 (low Jun.8) and finally 1.1049 (low Jun.5). On the flip side, the initial up barrier aligns at 1.1346 (high Jun.9) followed by 1.1383 (high May 13) and then 1.1400 (psychological level).