EUR Trading Outlook (15-06-2011)

The Euro (EUR) negative Greece bailout news continued to hamper gains with a test of 1.4500 rejected and the major pulling back to opening levels late in the US session. EUR/GBP bounced to above 0.8840 before once again sellers regained control to push the cross back to 0.8800. Overall the EUR/USD traded with a low of 1.4377 and a high of 1.4498 before closing the day around 1.4420 in the New York session. Looking ahead, April Industrial Production forecast at -0.2% m/m.

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