FXStreet (Edinburgh) – The common currency remains entrenched in the negative ground on Tuesday, now taking EUR/USD to the mid-1.1100s.
EUR/USD attention on Greek referendum
The pair seems to have found some decent support in the 1.1155/50 band so far, after the preliminary consumer prices in the euro area rose at an annual pace pf 0.2% during June, a tad below consensus at 0.3%. Core prices matched estimates advancing 0.8% over the last twelve months. Extra data in the euro bloc showed the unemployment steady at 11.1% during June.
In the meantime, and after missing today’s IMF €1.6 billion repayment, Greece remains focused on the outcome of next Sunday’s referendum, where according to polls, the ‘No’ vote is slightly up.
EUR/USD key levels
At the moment the pair is retreating 0.57% at 1.1171 and a breach below 1.1134 (low Jun.30) would target 1.0954 (low Jun.29) en route to 1.0918 (low Jun.2). On the flip side, the initial hurdle aligns at 1.1279 (high Jun.29) followed by 1.1283 (high Jun.23) and finally 1.1300 (psychological level).
The common currency remains entrenched in the negative ground on Tuesday, now taking EUR/USD to the mid-1.1100s…
(Market News Provided by FXstreet)