8 Jun 2015
EUR/USD rises through 1.1300
FXStreet (Córdoba) - EUR/USD rose more than 200 pips throughout the day and managed to pierce through the 1.1300 psychological level into the end of the New York session.
The euro was supported by positive German data and another sell-off in Bunds which lifted German yields and erased completely Friday’s post-NFP losses. Having hit a high of 1.1306, EUR/USD is currently trading at 1.1296, recording a 1.64% gain on the day.
On the Greek front, world leaders, ie Merkel, Obama, urged Athens to get serious and implement reforms. Later in the day, a WSJ story suggested Greece and its creditors might extend the current bailout program until the end of March 2016.
EUR/USD technical levels
In terms of technical levels, next resistances are seen at 1.1379 (Jun 4 high) and 1.1400 (psychological level). On the other hand, supports could be found at 1.1083 (daily low), 1.1067 (100-day SMA) and 1.1049 (Jun 5 low).
The euro was supported by positive German data and another sell-off in Bunds which lifted German yields and erased completely Friday’s post-NFP losses. Having hit a high of 1.1306, EUR/USD is currently trading at 1.1296, recording a 1.64% gain on the day.
On the Greek front, world leaders, ie Merkel, Obama, urged Athens to get serious and implement reforms. Later in the day, a WSJ story suggested Greece and its creditors might extend the current bailout program until the end of March 2016.
EUR/USD technical levels
In terms of technical levels, next resistances are seen at 1.1379 (Jun 4 high) and 1.1400 (psychological level). On the other hand, supports could be found at 1.1083 (daily low), 1.1067 (100-day SMA) and 1.1049 (Jun 5 low).