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23 Feb 2015
EUR/USD dips to lows around 1.1360
FXStreet (Edinburgh) - The single currency is now accelerating its intraday decline against the dollar, dragging EUR/USD to test session troughs around 1.1360/55.
EUR/USD weaker, eyes on Greece
Greece will once again be the centre of attention for EUR traders this week. After Friday’s deal, and in order to confirm the 4-month loan extension, the country needs to present a series of reforms today to be assessed by the Troika, in a first step to finally unlock the funds. In the meantime, markets will remain vigilant on any signs of internal turmoil within the Syriza party, as a potential source of effervescence in the negotiations.
In the data space, the IFO series are due in the euro area, with all of the components expected to tick higher for the current month.
EUR/USD levels to consider
As of writing the pair is retreating 0.16% at 1.1357 and a breakdown of 1.1300 (psychological level) would aim for 1.1278 9low Feb.20) and finally 1.1270 (low Feb.9). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).
EUR/USD weaker, eyes on Greece
Greece will once again be the centre of attention for EUR traders this week. After Friday’s deal, and in order to confirm the 4-month loan extension, the country needs to present a series of reforms today to be assessed by the Troika, in a first step to finally unlock the funds. In the meantime, markets will remain vigilant on any signs of internal turmoil within the Syriza party, as a potential source of effervescence in the negotiations.
In the data space, the IFO series are due in the euro area, with all of the components expected to tick higher for the current month.
EUR/USD levels to consider
As of writing the pair is retreating 0.16% at 1.1357 and a breakdown of 1.1300 (psychological level) would aim for 1.1278 9low Feb.20) and finally 1.1270 (low Feb.9). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).