FXstreet.com (London) - EUR/USD has traded in a tight 20 pips range between 1.4410 and 1.4390 this session. Greeces fiscal woes deepen as the unreliability of Greece data on the deficit has burdened the pair. Pair currently quoting at 1.4396, still nearly 10 pips from the opening price.

Credit worries are still linger, and eyes this year will focus on the development and action of the respective government for many Eurostates including Spain, Portugal, Sweden and in particular Greece.

Pair currently consolidating but likely to drift to downside, as repeated revision of deficit numbers from Greece are really generating panic. The series of major company reports will be the next key signs on the global recovery road for investors.

For primary resistance we take 1.4420, and for support should downside find momentum again, we look at 1.4380 (previous session low) for the pair to extend bearish trend.

.