FXStreet (Edinburgh) – The European currency kept the range vs. the dollar on Monday, with EUR/USD hovering over the 1.1100 handle.
EUR/USD steady on German data
The pair practically posted no reaction after German inflation figures surprised investors to the downside during June. In fact, prices tracked by the CPI contracted 0.1% inter-month and rose 0.3% on a yearly basis. The broader HICP gauge showed consumer prices contracted 0.2% on a monthly basis and advanced 0.1% YoY.
In the meantime, the pair is looking to close the opening gap to the mid-1.0900s following the Greek events over the weekend, with the more relevant news so far being EC Juncker’s invitation to the Greek people to vote ‘Yes’, as doing otherwise could mean ‘Grexit’.
EUR/USD key levels
At the moment the pair is down 0.35% at 1.1121 with the next support at 1.0954 (low Jun.29) ahead of 1.0918 (low Jun.2) and finally 1.0900 (psychological level). On the other hand, a surpass of 1.1126 (high Jun.29) would expose 1.1219 (high Jun.26) and then 1.1283 (high Jun.23).
The European currency kept the range vs. the dollar on Monday, with EUR/USD hovering over the 1.1100 handle…
(Market News Provided by FXstreet)