EUR/USD Technical Analysis 06.19 Looking For Upside
The pair is due for a volatile week as investors will likely be expecting some sort of resolution to the Greek sovereign debt crisis. The fact that the policy makers have so far failed to agree on how to solve the Greek saga has put considerable pressure on the currency and unless a compromise is found, the pair will continue to head south. Also, Greek PM is expected to seek a vote of confidence this week as he attempts to push through with reforms. In terms of macro-economic data, attention will be on the widely followed ZEW survey, Eurozone Current Account and also the Manufacturing/Services PMIs. Finally, technical studies indicate that support levels are seen at 1.4073, 1.3968 and then at the 21Day Lower Bollinger Band. On the other hand, resistance levels are seen at the 21DMA line at 1.4343 and then at the 10DMA line at 1.4407.
The pair is due for a volatile week as investors will likely be expecting some sort of resolution to the Greek sovereign debt crisis. The fact that the policy makers have so far failed to agree on how to solve the Greek saga has put considerable pressure on the currency and unless a compromise is found, the pair will continue to head south. Also, Greek PM is expected to seek a vote of confidence this week as he attempts to push through with reforms. In terms of macro-economic data, attention will be on the widely followed ZEW survey, Eurozone Current Account and also the Manufacturing/Services PMIs. Finally, technical studies indicate that support levels are seen at 1.4073, 1.3968 and then at the 21Day Lower Bollinger Band. On the other hand, resistance levels are seen at the 21DMA line at 1.4343 and then at the 10DMA line at 1.4407.