EUR/USD continues falling. The US dollar was significantly supported by the FOMC minutes that were published yesterday. The minutes showed that at the last meeting the majority of the committee members supported the possibility of a monetary policy tightening in June.
The US labor market continues strengthening while global economy risks have fallen. Inflation is growing as well, though remains below its 2% target yet.
At the same time, the euro is pressured by investors’ concern regarding the state of the Greek economy. Greece is due to pay off the 11 billion euro debt to international creditors before the end of June, which could become problematic for the country.
The pair broke down an important support level at 1.1217, and if it manages to consolidate below this level, pair’s fall could continue towards 1.1144.
The nearest support level is at 1.1217.
The nearest resistance level is at 1.1284.