9 Jun 2015
EUR/USD drops further to 1.1250
FXStreet (Edinburgh) - The selling pressure is gathering steam around the single currency on Tuesday, now sending EUR/USD towards the 1.1250 area.
EUR/USD hurt by Greece
The rising uncertainties surrounding the Greek negotiations with its euro zone peers continues to weigh on sentiment today, with the latest news noting that Greece have submitted new proposals to be assessed by the EU members. In the meantime, tomorrow’s meeting between Merkel, Tsipras and Hollande remains the main event in the very near term.
In the data universe, EMU’s GDP figures during the first quarter have come in line with the first revision, showing that the economy have expanded 0.4% QoQ and 1.0% YoY.
EUR/USD levels to watch
The pair is now retreating 0.22% at 1.1266 and a breach of 1.1249 (low Jun.9) would target 1.1179 (low Jun.4) en route to 1.1084 (low Jun.8). 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 hurt by Greece
The rising uncertainties surrounding the Greek negotiations with its euro zone peers continues to weigh on sentiment today, with the latest news noting that Greece have submitted new proposals to be assessed by the EU members. In the meantime, tomorrow’s meeting between Merkel, Tsipras and Hollande remains the main event in the very near term.
In the data universe, EMU’s GDP figures during the first quarter have come in line with the first revision, showing that the economy have expanded 0.4% QoQ and 1.0% YoY.
EUR/USD levels to watch
The pair is now retreating 0.22% at 1.1266 and a breach of 1.1249 (low Jun.9) would target 1.1179 (low Jun.4) en route to 1.1084 (low Jun.8). 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).