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EUR/USD begins 2015 above 1.2100


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FXStreet (London) – EUR/USD has kicked off the new year by pushing its head above the 1.2100 level in early trading.

The pair is currently trading at 1.2101, down -0.03% on the session, with the 2014 low at 1.2096 lurking just below the psychological 1.2100 level. Trading can be expected to be subdued overnight with China, Japan and New Zealand on holiday, and eyes will be fixed on the upcoming European Manufacturing PMI data in the morning.


On Dec 31st, the Greek vote raised the spectre of a Grexit becoming at most a reality, and at least the resurrection of the Eurozone crisis once again. However, an ally to German Chancellor Merkel, Michael Fuchs commented that Greece was no longer of systemic importance to the Eurozone, and could not blackmail their partners any longer.


EUR/USD Levels


To the upside, resistance can be seen ahead around 1.2116, 1.2123 and 1.2141-50. Below, support can be seen at 1.2100, and 1.2096, the 2014 low, and 1.2053, the 2012 low.