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2 Jun 2015
EUR/USD advances to 1.1200
FXStreet (Edinburgh) - The shared currency is now intensifying its daily upside, pushing EUR/USD to levels just shy of the 1.1200 handle.
EUR/USD in 2-week peaks
The pair is now rapidly picking up pace, leaving behind the 1.1000 handle and advancing to 2-week tops around 1.1190. The usual Greek rumours about the proximity of a EU-Greece deal (although this time seems for real) plus short covering would be the main drivers propping up the upside momentum.
In addition, the greenback, in terms of the US Dollar index, keeps grinding lower, currently trading in the lower bound of the range in sub-97.00 levels ahead of US Factory Orders due later (0.0% exp.).
EUR/USD levels to watch
The pair is gaining 1.85% at 1.1129 with the next resistance at 1.1194 (high Jun.2) ahead of 1.1200 (psychological level) and then 1.1208 (high May 22). On the flip side, a breach of 1.0915 (low Jun.2) would target 1.0887 (low Jun.1) en route to 1.0867 (low May 28).
EUR/USD in 2-week peaks
The pair is now rapidly picking up pace, leaving behind the 1.1000 handle and advancing to 2-week tops around 1.1190. The usual Greek rumours about the proximity of a EU-Greece deal (although this time seems for real) plus short covering would be the main drivers propping up the upside momentum.
In addition, the greenback, in terms of the US Dollar index, keeps grinding lower, currently trading in the lower bound of the range in sub-97.00 levels ahead of US Factory Orders due later (0.0% exp.).
EUR/USD levels to watch
The pair is gaining 1.85% at 1.1129 with the next resistance at 1.1194 (high Jun.2) ahead of 1.1200 (psychological level) and then 1.1208 (high May 22). On the flip side, a breach of 1.0915 (low Jun.2) would target 1.0887 (low Jun.1) en route to 1.0867 (low May 28).