EUR/USD wobbles around 1.1300
- global fx
- Feb 20, 2015
- 1 min read
After falling to the 1.1280 area, EUR/USD is now clinging to the 1.1300 key handle ahead of the Eurogroup meeting.
EUR/USD softer as a Greek solution evaporates
Today’s Eurogroup meeting could not be the last one, let alone a definitive one. EU and Greek officials slipped the possibility that another meeting/s might be needed to unlock the current debt talks, adding further uncertainty to the current scenario. In the meantime, the pair responded with a correction lower to the 1.1280 region pending news from the EU/Greece front. Regarding data releases in Euroland, mixed PMIs were utterly innocuous to the pair’s price action, leaving all the attention to the Greek’s debt ongoing negotiation. EUR/USD key levels As of writing the pair is losing 0.32% at 1.1322 and a break below of 1.1303 (low Feb.12) would target 1.1270 (low Feb.9) en route to 1.1262 (low Jan.29). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).
