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1 Jun 2015
EUR/USD holds near 1.10, Greek news positive input
FXStreet (Bali) - EUR/USD remains capped below 1.10, virtually unchanged from its NY close at 1.0980, despite weekend comments from Greek Interior Minister about the country's intends for a more flexible approach to reach a new funding deal with its international lenders this week.
Greece news 'a step in the right direction'
As described by Valeria Bednarik, Chief Analyst at FXStreet, comments from the Greek Interior minister Nikos Voutsis, noting that some parts of the anti-austerity program could be pushed back by six months or maybe a year, "would a step in the right direction", Valeria notes.
EUR/USD technicals - Positive tone within bearish bias
Technically, Valeria underscores that based in the 4 hours chart, EUR/USD carried a positive note heading in to the NY close, holding "above a mild bullish 20 SMA, with the RSI indicator heading north around 55 and the Momentum indicator consolidating in positive territory", our In-house Analyst explains.
While the H4 chart may show constructive price action, the bigger time frames still maintain a bearish bias, Valeria observes, "which should keep the upside limited ahead of critical events later this week", the Analyst said, identifying 1.1050 as key for the upcoming sessions.
Greece news 'a step in the right direction'
As described by Valeria Bednarik, Chief Analyst at FXStreet, comments from the Greek Interior minister Nikos Voutsis, noting that some parts of the anti-austerity program could be pushed back by six months or maybe a year, "would a step in the right direction", Valeria notes.
EUR/USD technicals - Positive tone within bearish bias
Technically, Valeria underscores that based in the 4 hours chart, EUR/USD carried a positive note heading in to the NY close, holding "above a mild bullish 20 SMA, with the RSI indicator heading north around 55 and the Momentum indicator consolidating in positive territory", our In-house Analyst explains.
While the H4 chart may show constructive price action, the bigger time frames still maintain a bearish bias, Valeria observes, "which should keep the upside limited ahead of critical events later this week", the Analyst said, identifying 1.1050 as key for the upcoming sessions.