6 Jul 2015
EUR/USD recovery capped at 1.1090; back to 1.1050
FXStreet (Barranquilla) - The recovery from 1.1000 performed by the Euro against the US Dollar has been capped at the 1.1090 area as the EUR/USD tested the daily highs posted earlier in the Asian session. Currently, EUR/USD is trading at 1.1049, down 0.43% on the day, having posted a daily high at 1.1096 and low at 1.0970.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
The Euro is trading under pressure following the NO-victory in Greece. German Chancellor Angela Merkel and French President Francois Hollande, however, affirmed that the doors are still open for new Greek proposals.
EUR/USD Forecast
According to the EUR/USD Forecast Poll, "Greece is too heavy for the Euro" as the FXpoll "expects the EUR/USD to fall below 1.1000 next week." In the same line, Yohay Elam from ForexCrunch also commented that the NO vote just worsened the Euro outlook.
EUR/USD Levels
If the EUR/USD extends declines below 1.1050, it would find supports at 1.1000 and 1.0970. To the upside, resistances are at 1.1090, 1.1100 and 1.1120.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
The Euro is trading under pressure following the NO-victory in Greece. German Chancellor Angela Merkel and French President Francois Hollande, however, affirmed that the doors are still open for new Greek proposals.
EUR/USD Forecast
According to the EUR/USD Forecast Poll, "Greece is too heavy for the Euro" as the FXpoll "expects the EUR/USD to fall below 1.1000 next week." In the same line, Yohay Elam from ForexCrunch also commented that the NO vote just worsened the Euro outlook.
EUR/USD Levels
If the EUR/USD extends declines below 1.1050, it would find supports at 1.1000 and 1.0970. To the upside, resistances are at 1.1090, 1.1100 and 1.1120.