EUR/USD drops further below 1.0920

EUR/USD drops further below 1.0920
FXStreet (Edinburgh) – The euro remains on the back footing vs. the greenback during the European afternoon, with EUR/USD now fading a rebound to the 1.0930 area.

EUR/USD weaker ahead of Greek vote

The pair has surrendered the spike to the vicinity of 1.0970 amidst an initial bid tone in the risk-associated assets, while market participants continue to wait for the outcome of the Greek vote on the second reforms package submitted by the government.

Next of relevance in the data front will be US Existing Home Sales, expected to have increased 1.2% MoM in June, or 5.4 million units.

EUR/USD levels to watch

At the moment the pair is retreating 0.15% at 1.0918 with the next support at 1.0900 (psychological level) ahead of 1.0812 (low Jul.21) and finally 1.0789 (low Apr.25). On the flip side, a break above1.0968 (high Jul.22) would target 1.1036 (high Jul.15) en route to 1.1086 (high Jul.14).
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EUR/USD drops further below 1.0920
Source: FXStreet