11 Jun 2015
EUR/USD unable to gather traction, near 1.1260
FXStreet (Edinburgh) - Against a backdrop of a generalized recovery in the US dollar, EUR/USD remains stuck in the red territory around the 1.1260 area.
EUR/USD looks to Brussels, US data
The pair keeps retracing the recent spike to the tops near 1.1380, in a context where the risk aversion remains firm and giving support to the current USD-upside. On the Greek front, the absence of any significant progress keeps weighing on the euro while the upcoming meeting between EC’s J.C.Juncker and PM A.Tsipras promises bouts of rumours, as usual.
Next of relevance in the pair will be May’s Retail Sales followed by Initial Claims. Previous estimates point to an advance of 1.1% on a monthly basis in headline sales, and claims to come in at 277K in the week ended on June 5th.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.51% at 1.1266 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 looks to Brussels, US data
The pair keeps retracing the recent spike to the tops near 1.1380, in a context where the risk aversion remains firm and giving support to the current USD-upside. On the Greek front, the absence of any significant progress keeps weighing on the euro while the upcoming meeting between EC’s J.C.Juncker and PM A.Tsipras promises bouts of rumours, as usual.
Next of relevance in the pair will be May’s Retail Sales followed by Initial Claims. Previous estimates point to an advance of 1.1% on a monthly basis in headline sales, and claims to come in at 277K in the week ended on June 5th.
EUR/USD levels to watch
At the moment, the pair is now retreating 0.51% at 1.1266 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).