11 Jun 2015
EUR/USD slumps to 1.1240, ‘Grexit’ looms
FXStreet (Edinburgh) - The common currency is now accelerating its daily decline against the greenback, relegating EUR/USD to session lows around 1.1240.
EUR/USD weaker, Greek confusion growing bigger
The pair is testing 2-day lows in the 1.1240 area following the increasing uncertainty surrounding the EU-Greece debt talks, with BuBa’s J.Weidmann adding that the country’s insolvency is alarmingly rising day by day.
In addition, there’s seems to be an impasse in the sell off in the German bunds, adding some extra downside pressure to the euro, although the 10-year benchmark remains close to the key 1.0% threshold.
While Greece remains in the limelight during the European morning, US Retail Sales during May (1.1% exp.) and Initial Claims (277K exp.) will grab all the attention across the pond.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.60% at 1.1255 with the next support at 1.1241 (low Jun.11) followed by 1.1214 (low Jun.9) and finally 1.1190 (10-d MA). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).
EUR/USD weaker, Greek confusion growing bigger
The pair is testing 2-day lows in the 1.1240 area following the increasing uncertainty surrounding the EU-Greece debt talks, with BuBa’s J.Weidmann adding that the country’s insolvency is alarmingly rising day by day.
In addition, there’s seems to be an impasse in the sell off in the German bunds, adding some extra downside pressure to the euro, although the 10-year benchmark remains close to the key 1.0% threshold.
While Greece remains in the limelight during the European morning, US Retail Sales during May (1.1% exp.) and Initial Claims (277K exp.) will grab all the attention across the pond.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.60% at 1.1255 with the next support at 1.1241 (low Jun.11) followed by 1.1214 (low Jun.9) and finally 1.1190 (10-d MA). On the flip side, a break above 1.1334 (high Jun.11) would open the door to 1.1387 (high Jun.10) and then 1.1400 (psychological level).