10 Jul 2015
EUR/USD down to 1.1130, focus on Greek deal vote
FXStreet (Edinburgh) - The common currency has now given away some gains vs. the greenback, sending EUR/USD back to the 1.1130 area.
EUR/USD attention to Greece, Yellen
While market participants continue to wait for the results of the vote on the Greek debt deal, the pair has abandoned the 1.1200 neighbourhood and has returned to the low-1.1100s. Apart from the vote in the Greek Parliament, the focus has shifted to the decisive Eurogroup meeting tomorrow and the potential EU Leaders Summit on Sunday.
In another direction, the greenback remains indifferent following the remarks by Chairwoman J.Yellen. She argued that a rate hike remains on the table later in the year, signalling at the same time that the recovery in the domestic labour market still has room to go. In addition, she noted that the pick up in wages could be a sign that full employment is closer.
EUR/USD levels to consider
The pair is now up 0.83% at 1.1128 with the next hurdle at 1.1217 (high Jul10) ahead of 1.1234 (high Jun.24) and finally 1.1244 (high Jun.30). On the downside, a breach of 1.1030 (low Jul.10) would aim for 1.0974 (low Jul.8) and then 1.0916 (low Jul.7).
EUR/USD attention to Greece, Yellen
While market participants continue to wait for the results of the vote on the Greek debt deal, the pair has abandoned the 1.1200 neighbourhood and has returned to the low-1.1100s. Apart from the vote in the Greek Parliament, the focus has shifted to the decisive Eurogroup meeting tomorrow and the potential EU Leaders Summit on Sunday.
In another direction, the greenback remains indifferent following the remarks by Chairwoman J.Yellen. She argued that a rate hike remains on the table later in the year, signalling at the same time that the recovery in the domestic labour market still has room to go. In addition, she noted that the pick up in wages could be a sign that full employment is closer.
EUR/USD levels to consider
The pair is now up 0.83% at 1.1128 with the next hurdle at 1.1217 (high Jul10) ahead of 1.1234 (high Jun.24) and finally 1.1244 (high Jun.30). On the downside, a breach of 1.1030 (low Jul.10) would aim for 1.0974 (low Jul.8) and then 1.0916 (low Jul.7).