EUR/USD moves sluggishly on strong U.S. housing report
The EUR/USD decreased sharply to touch the 1.1133 low after strong US housing data, which boosts expectations that the Fed is going to hike rates in June.
The EUR/USD is aiming for further declines below 1.1100 on concerns that Britain is going to leave the Eurozone. Breaking 1.1125 will open a lower leg to touch near-term support levels 1.1105 and 1.1070 the (50 % Fibonacci retracement).
However, the EUR/USD found a little support as the Euro group announced a deal on Greek bailout funding. The EUR/USD needs to trade above 1.1155 in order to show further gains toward 1.1175 and 1.1215 respectively.
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