Back
14 Aug 2015
EUR/USD erases Greek vote-gains, returns to 1.1150
FXStreet (Mumbai) - EUR/USD failed to sustain at higher levels and receded to familiar range around 1.1150 levels, after the shared currency faded the Greek 3rd bailout vote passage induced spike versus the US dollar now turned mildly in the red with focus now shifted back to Euro zone data and the upcoming Euro group meeting.
Greek vote approval fails to impress the bulls
The EUR/USD pair trades almost unchanged at 1.1150, retreating from session highs reached at 1.1172 levels.
The main currency pair is seen consolidating around 1.1150 levels as traders refrained from creating fresh positions ahead of a series of crucial macro data from the Euro zone including EZ final GDP and CPI figures.
Earlier this session, the pair was little changed and kept the range post the release of German GDP data for the second quarter. Germany's economy rose 0.4% during the second quarter of 2015 after only 0.3% expansion in Q1. Markets had expected a 0.5% increase.
Looking ahead, traders' focus will also turn to Brussels later in the day where the Eurogroup is set to meet to discuss the technical agreement over the €86 billion bailout for Greece reached earlier this week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1079 (Aug 13 Low).
Greek vote approval fails to impress the bulls
The EUR/USD pair trades almost unchanged at 1.1150, retreating from session highs reached at 1.1172 levels.
The main currency pair is seen consolidating around 1.1150 levels as traders refrained from creating fresh positions ahead of a series of crucial macro data from the Euro zone including EZ final GDP and CPI figures.
Earlier this session, the pair was little changed and kept the range post the release of German GDP data for the second quarter. Germany's economy rose 0.4% during the second quarter of 2015 after only 0.3% expansion in Q1. Markets had expected a 0.5% increase.
Looking ahead, traders' focus will also turn to Brussels later in the day where the Eurogroup is set to meet to discuss the technical agreement over the €86 billion bailout for Greece reached earlier this week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1079 (Aug 13 Low).