10 Jul 2015
EUR/USD climbs above 1.1200 as creditors assess Greek proposals
FXStreet (Córdoba) - EUR/USD climbed above the 1.1200 level and hit fresh 10-day high as the euro benefitted from hopes Greece and its creditors could finally reach a deal this weekend.
EUR/USD climbed nearly 200 pips over the last sessions and reached its highest level since Jun 30 at 1.1215 before pulling back slightly. At time of writing, the pair is trading at 1.1205, recording a 1.55% gain on the day.
Creditors assess Greek proposals
Greece has submitted a set of reform proposals and asked €53.5 billion in a new bailout package. Greek Parliament was discussing the package and on Saturday the Eurogroup will discuss Greek reform plan.
Eurogroup will get assessment from institutions (EU, ECB and IMF) relating to Greek proposals tonight before tomorrow's meeting.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.1215 (Jul 10 high) and 1.1242 (Jun 30 high). On the other hand, supports could be found at 1.1025 (100-day SMA) and 1.1000 (psychological levels).
EUR/USD climbed nearly 200 pips over the last sessions and reached its highest level since Jun 30 at 1.1215 before pulling back slightly. At time of writing, the pair is trading at 1.1205, recording a 1.55% gain on the day.
Creditors assess Greek proposals
Greece has submitted a set of reform proposals and asked €53.5 billion in a new bailout package. Greek Parliament was discussing the package and on Saturday the Eurogroup will discuss Greek reform plan.
Eurogroup will get assessment from institutions (EU, ECB and IMF) relating to Greek proposals tonight before tomorrow's meeting.
EUR/USD levels to watch
In terms of technical levels, immediate resistances are seen at 1.1215 (Jul 10 high) and 1.1242 (Jun 30 high). On the other hand, supports could be found at 1.1025 (100-day SMA) and 1.1000 (psychological levels).