12 Jun 2015
EUR/USD picks up momentum despite skepticism over a Greek deal
FXStreet (Córdoba) - EUR/USD picked up momentum and climbed to fresh daily highs, erasing intraday losses amid softness in US yields but no new fundamental news.
USD weakens across the board, weighed by US yields
The dollar weakened across the board, sending EUR/USD to a fresh daily peak of 1.1273, despite no progress in the Greek front. Latest downbeat comments from Greek and EU officials are lifting skepticism Athens will struck a deal at next week’s Eurogroup meeting.
The dollar also failed to benefit from strong University of Michigan/Reuters consumer sentiment index, coming in at 94.6 in the preliminary reading for June from 90.7 in May and above expectations of 91.5.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1270, now up 0.13% on the day, having recovered from a low of 1.1150 scored during the European session. As for technical levels, next supports are seen at 1.1150 (Jun 12 low), 1.1087 (Jun 8 low) and 1.1049 (Jun 5 low). On the other hand, next resistances could be found at 1.1300 (psychological level), 1.1330 (Jun 11 high) and 1.1387 (Jun 10 high).
USD weakens across the board, weighed by US yields
The dollar weakened across the board, sending EUR/USD to a fresh daily peak of 1.1273, despite no progress in the Greek front. Latest downbeat comments from Greek and EU officials are lifting skepticism Athens will struck a deal at next week’s Eurogroup meeting.
The dollar also failed to benefit from strong University of Michigan/Reuters consumer sentiment index, coming in at 94.6 in the preliminary reading for June from 90.7 in May and above expectations of 91.5.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1270, now up 0.13% on the day, having recovered from a low of 1.1150 scored during the European session. As for technical levels, next supports are seen at 1.1150 (Jun 12 low), 1.1087 (Jun 8 low) and 1.1049 (Jun 5 low). On the other hand, next resistances could be found at 1.1300 (psychological level), 1.1330 (Jun 11 high) and 1.1387 (Jun 10 high).