EUR/USD consolidates above 1.0900

FXStreet (Córdoba) – The euro managed to reverse intraday losses versus the greenback and turned positive during the American session as the US currency weakened across the board.

Mixed US data did little to inspire investors, leaving EUR/USD confined to range trading during most of the day. Having hit a daily high of 1.0958, the pair is currently trading at 1.0935, recording a 0.30% gain on the day.

Despite the lack of progress in Greek negotiations, EUR/USD is on track to close its second consecutive day with gains. Attention now turns to US GDP revision to be released on Friday, which is expected to show a downward revision to -1.0% from +0.2% previously estimated.

EUR/USD technical levels

In terms of technical levels, immediate resistances are seen at 1.0958 (daily high), 1.0980 (May 26 high) and 1.1000 (psychological level). On the downside, supports could be found at 1.0867 (daily low), 1.0819 (May 27 low) and 1.0800 (psychological level).

The euro managed to reverse intraday losses versus the greenback and turned positive during the American session as the US currency weakened across the board.

(Market News Provided by FXstreet)