Trading Video: Not a Clean Break for EURUSD or EURJPY
• Holiday trading conditions would indeed curb the market's ability to make key breaks on pairs like EURUSD
• A round of event risk for the US ahead may accelerate or even reverse the Dollar's bid higher
• From the Euro, a Greek Ministers warning about Greece repaying its June IMF loan feeds a festering risk
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The holiday drain to start the week didn't do much to ease frayed nerves. The Dollar was still leaning on key technical levels across the majors - and in the case of EURUSD, it was actually pushing its progress. The world's most liquid pairing slid below the even 1.1000 floor that has acted as key support and then resistance through 2015. Data contributed to the move with Fed speakers Monday keeping the same drum beat of a timely (2015) rate hike. Meanwhile, the Euro felt the burden of Greek Interior Minister Voutsis' remark that they would not make the June IMF payment and a further shift towards anti-austerity support in regional Spanish elections over the weekend. Yet, neither Dollar nor Euro developments hold the promise to feed momentum. That likely falls to fundamental sparks and deeper liquidity ahead. We look at the Dollar, Euro and risk trends in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.