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EUR/USD sets a session high of 1.0802

FXStreet (Mumbai) - The USD sellers are back in the European session, pushing the EUR/USD pair higher to 1.0802 levels amid rising Greek concerns.

Gains capped by news about Greece

The gains were capped at 1.08 levels on news that Central banks in southeastern European countries have asked banking subsidiaries of Greek lenders in their countries to exit all exposures to Greek state bonds and treasury bills.

However, the USD sellers are persistent enough to ensure the pair remained higher around 1.0790 levels. Investors also await the Eurozone CPI, which is likely to show price pressures rebounded in March month-on-month.

EUR/USD Technical Levels

The immediate resistance is located at 1.0816, above which gains could be extended to 1.0870. On the flip side, a break below 1.0750 could push the pair down to 1.0715.

US headline CPI not expected to show any marked improvement – Rabobank

The Rabobank Team previews the US inflation data to be released today, noting that the headline CPI is expected to come in at 0.0%yoy, largely driven by falling oil prices.
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Greece unease building, EUR weakness ahead – BTMU

Derek Halpenny, European Head of GMR at Bank of Tokyo-Mitsubishi UFJ, shares the key developments surrounding the Greece bailout scenario, noting that the higher squeeze in EUR/USD stands limited in front of the Greek uncertainty.
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