Forex Flash: EcoFin meeting still ongoing; where to for the EUR/USD? - NAB
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EUR/USD
FXstreet.com (Barcelona) - The EcoFin meeting, aimed to agree on new bailout terms for Greece, is still ongoing; EURUSD continues to populate around 1.2800, "amid ongoing optimism that an outline agreement will be reached" NAB strategist note.
"News of a deal during Asian hours should push EURUSD higher (1.2876 is the Nov 7 high) and carry the AUD and NZD modestly higher in its wake. Any failure, on the other hand, would see a plunge back to below 1.2700 and with a real threat 1.2630 key support will be challenged in coming days. This though looks like a fairly thin tail risk"
"News of a deal during Asian hours should push EURUSD higher (1.2876 is the Nov 7 high) and carry the AUD and NZD modestly higher in its wake. Any failure, on the other hand, would see a plunge back to below 1.2700 and with a real threat 1.2630 key support will be challenged in coming days. This though looks like a fairly thin tail risk"
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