EUR/USD still recovering, ‘Grexit’ lost momentum

FXStreet (Edinburgh) – The shared currency is now looking to consolidate the current recovery beyond the 1.1100 handle vs. the dollar, pushing EUR/USD to the 1.1115/20 area.

EUR/USD bounced off 1.0950

After a brief visit to the mid-1.0900s, the pair has managed to gather traction and is now on track to close the opening gap. In the meantime, the flow of Greek headlines remains quiet so far, while market participants keep digesting the recent developments and remain focused on news regarding the IMF loan payment due tomorrow and the referendum on Saturday.

In the data front, German inflation figures came in on the softer side for the current month, while Pending Home Sales will be in the limelight across the pond later.

EUR/USD key levels

At the moment the pair is down 0.41% at 1.1113 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 shared currency is now looking to consolidate the current recovery beyond the 1.1100 handle vs. the dollar, pushing EUR/USD to the 1.1115/20 area…

(Market News Provided by FXstreet)