11 Aug 2015
EUR/USD climbs to fresh highs above 1.1050
FXStreet (Córdoba) - EUR/USD got another boost and broke to fresh daily highs before the Wall Street opening bell in a day marked by Greek bailout deal and China’s surprise devaluation.
EUR/USD extended gains to a fresh 11-day high as US investors join in. EUR/USD broke above the 1.1050 resistance zone and stretched to a peak of 1.1069 in recent dealings. At time of writing, the pair is trading at 1.1060, recording a 0.41% gain on the day.
Greece reaches deal with creditors
On Tuesday, Greece and its creditors reached a third bailout deal that would avoid any defaults. According to latest reports. the Eurogroup will meet on Friday to approve the deal.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate resistances at 1.1069 (Aug 11 high), 1.1093 (50-day SMA) and 1.1113 (Jul 31 high). On the flip side, supports are seen at 1.1032 (100-day SMA), 1.1000 (psychological level) and 1.0960 (Aug 11 low).
EUR/USD extended gains to a fresh 11-day high as US investors join in. EUR/USD broke above the 1.1050 resistance zone and stretched to a peak of 1.1069 in recent dealings. At time of writing, the pair is trading at 1.1060, recording a 0.41% gain on the day.
Greece reaches deal with creditors
On Tuesday, Greece and its creditors reached a third bailout deal that would avoid any defaults. According to latest reports. the Eurogroup will meet on Friday to approve the deal.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate resistances at 1.1069 (Aug 11 high), 1.1093 (50-day SMA) and 1.1113 (Jul 31 high). On the flip side, supports are seen at 1.1032 (100-day SMA), 1.1000 (psychological level) and 1.0960 (Aug 11 low).