Valeria Bednarik, Chief Analyst at FXStreet, notes that selling interested has contained EUR/USD’s advance in the 1.1365 price zone, thus limiting any strong gains for the pair.
Key Quotes
“The EUR/USD trades higher in range this Monday, gapping higher at the opening following news Greek new PM Tsipras stated the country will honor its debt with the ECB and the IMF, although will likely negotiate the debt with the rest of the EZ countries.”
“Technically, the 4 hours chart shows that the pair maintains the neutral stance that prevailed for most of the last few days, with the price hovering around a flat 20 SMA and indicators also directionless above their midlines.”
“Selling interest has contained advances in the 1.1365 price zone, and there's little room for a strong advance as long as the level holds.”
“To the downside, the 1.1280 comes as immediate short term support, followed by 1.1250. These last needs to be broken to anticipated a continued slide towards the 1.1200 area.”
Key Quotes
“The EUR/USD trades higher in range this Monday, gapping higher at the opening following news Greek new PM Tsipras stated the country will honor its debt with the ECB and the IMF, although will likely negotiate the debt with the rest of the EZ countries.”
“Technically, the 4 hours chart shows that the pair maintains the neutral stance that prevailed for most of the last few days, with the price hovering around a flat 20 SMA and indicators also directionless above their midlines.”
“Selling interest has contained advances in the 1.1365 price zone, and there's little room for a strong advance as long as the level holds.”
“To the downside, the 1.1280 comes as immediate short term support, followed by 1.1250. These last needs to be broken to anticipated a continued slide towards the 1.1200 area.”
