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16 Jul 2015
EUR/USD fighting hard to stay close to 1.09
FXStreet (Mumbai) - The common currency is fighting hard with the bears to ensure the EUR/USD pair stay close to 1.09 levels after having breached the said level ahead of the ECB rate decision.
EUR ignored the Greek ELA news
The EUR is not buoyed by the after multiple reports say the ECB is likely to extend the Emergency Liquidity Assistance (ELA) to Greece. Bloomberg is also reporting that the EU has agreed in principle to provide EUR 7 billion bridge loan to Greece. Furthermore, there are also reports that Finland has passed a Greek mandate.
Moreover, the 1.09 handle was taken out the official data in the Eurozone showed the CPI in June fell to 0.2% year-on-year from 0.3% in May. Ahead in the day, the spot could be influenced by Draghi’s comments on Greece and weekly US jobless claims.
EUR/USD Technical Levels
The immediate support is seen at 1.0886 (June 1 low), under which the pair could target 1.0845 (61.8% Fib of Mar-May rally). On the other hand, resistance is seen at 1.0964 and 1.10 handle.
EUR ignored the Greek ELA news
The EUR is not buoyed by the after multiple reports say the ECB is likely to extend the Emergency Liquidity Assistance (ELA) to Greece. Bloomberg is also reporting that the EU has agreed in principle to provide EUR 7 billion bridge loan to Greece. Furthermore, there are also reports that Finland has passed a Greek mandate.
Moreover, the 1.09 handle was taken out the official data in the Eurozone showed the CPI in June fell to 0.2% year-on-year from 0.3% in May. Ahead in the day, the spot could be influenced by Draghi’s comments on Greece and weekly US jobless claims.
EUR/USD Technical Levels
The immediate support is seen at 1.0886 (June 1 low), under which the pair could target 1.0845 (61.8% Fib of Mar-May rally). On the other hand, resistance is seen at 1.0964 and 1.10 handle.