The Euro continues to strengthen as market sentiment changes from safe haven assets like bonds into more “risky” investments. The Euro was due to correct after what has been an extended rally from the lows of $1.0400. The key danger still lies with Greece. As the deadline for achieving a deal on Greece gets ever closer, it appears its European partners have lost patience and at this point may be considering the prospect of Greece outside of the Eurozone. This could pose a danger to the Euro and could cause a sharp turn around.
The Euro is currently approaching the 200EMA (Yellow line). The Euro is currently trading at $1.1425 against the Dollar.
EURUSD Daily Chart