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4 Feb 2015

EUR/USD falls after ECB statement on Greece

FXStreet (Córdoba) - EUR/USD lost the 1.1400 mark and made fresh lows for the day after the ECB announced it is lifting the waiver on using Greek government debt as collateral.

The waiver allowed Greek debt to be used as collateral despite the fact that they did not fulfil minimum credit rating requirements. The ECB said suspension is in line with existing Eurosystem rules, since “it is currently not possible to assume a successful conclusion of the programme review”.

EUR/USD came under pressure and dropped to a low of 1.1378 on the news. At time of writing, the pair is trading at 1.1385, 0.81% below its opening price.

EUR/USD technical levels

In terms of technical levels, EUR/USD could find next supports at 1.1329 (10-day SMA), 1.1312 (Feb 3 low) and 1.1300 (psychological level). On the other hand, resistances line up at 1.1484 (daily high), 1.1500 (psychological level) and 1.1530/33 (21-day SMA/Feb 3 high).
Feb 4, 2015

AUD/USD rebounds from 0.7740

The Aussie dollar remains on the back footing as markets enter the last part of the NA session on Wednesday, with AUD/USD around 0.7765/70...
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Feb 4, 2015

ECB lifts waiver on Greek bonds as collateral

The ECB has decided that it will lift the current waiver of minimum credit rating requirements for marketable instruments issued or guaranteed by Greece, not accepting the debt-stricken government bonds as collateral applicable on Feb 11th, noting that it cannot assume a successful conclusion of Greece review, adding that bank liquidity needs can be met by Greek central bank.
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