16 Feb 2015
EUR/USD dips to lows around 1.1370
FXStreet (Edinburgh) - The common currency is now extending its drop vs. the US dollar, dragging EUR/USD to test session lows around 1.1380/75.
EUR/USD weaker on Greece
The recent upside in the pair is losing momentum, as optimism regarding a positive outcome from today’s Eurogroup-Greece meeting is wearing thin. Earlier appreciations by German finmin W.Schauble showed his scepticism over the debt talks and renegotiation of the Greek debt, adding that although Germany does not want ‘Grexit’ to happen, the Hellenic country needs to meet ‘the minimum of he claims’.
Further news by agency Reuters stressed that initial discussions gyrated around an extension of the current bailout programme, although the draft text was deems unreasonable and unacceptable.
EUR/USD levels to consider
At the moment the pair is down 0.21% at 1.1374 and a drop beyond 1.1303 (low Feb.12) would expose 1.1300 (psychological level) and finally 1.1270 (low Feb.9). On the upside, the initial hurdle lies at 1.1443 (high Feb.13) ahead of 1.1485 (Kijun Sen) and then 1.1499 (high Feb.5).
EUR/USD weaker on Greece
The recent upside in the pair is losing momentum, as optimism regarding a positive outcome from today’s Eurogroup-Greece meeting is wearing thin. Earlier appreciations by German finmin W.Schauble showed his scepticism over the debt talks and renegotiation of the Greek debt, adding that although Germany does not want ‘Grexit’ to happen, the Hellenic country needs to meet ‘the minimum of he claims’.
Further news by agency Reuters stressed that initial discussions gyrated around an extension of the current bailout programme, although the draft text was deems unreasonable and unacceptable.
EUR/USD levels to consider
At the moment the pair is down 0.21% at 1.1374 and a drop beyond 1.1303 (low Feb.12) would expose 1.1300 (psychological level) and finally 1.1270 (low Feb.9). On the upside, the initial hurdle lies at 1.1443 (high Feb.13) ahead of 1.1485 (Kijun Sen) and then 1.1499 (high Feb.5).