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20 Aug 2015
EUR/USD breaks above 1.1200
FXStreet (Córdoba) - EUR/USD picked up fresh momentum and extended gains beyond the 1.12 mark, with no clear catalyst for the move and despite a strong series of US data released on Thursday.
EUR/USD has climbed more than 200 pips over the last sessions as the greenback continues to suffer on the back of more dovish than expected FOMC minutes. The pair reached a 7-week peak of 1.1219 and it is currently trading at the 1.1210 area, recording a 0.82% advance on the day.
Meanwhile in Greece, after the ESM approved the bailout package on Wednesday, rumour has it that the Greek PM Alexis Tsipras could resign and call snap elections tonight, when Tsipras is expected to make a statement according to local media.
EUR/USD levels to watch
As for technical levels, next resistances are seen at 1.1242 (Jun 30 high), and 1.1275 (Jun 29 high) ahead of 1.1300 (psychological level). On the other hand, supports could be found at 1.1106 (Aug 20 low), 1.1074 (50-day SMA) and 1.1050 (100-day SMA).
EUR/USD has climbed more than 200 pips over the last sessions as the greenback continues to suffer on the back of more dovish than expected FOMC minutes. The pair reached a 7-week peak of 1.1219 and it is currently trading at the 1.1210 area, recording a 0.82% advance on the day.
Meanwhile in Greece, after the ESM approved the bailout package on Wednesday, rumour has it that the Greek PM Alexis Tsipras could resign and call snap elections tonight, when Tsipras is expected to make a statement according to local media.
EUR/USD levels to watch
As for technical levels, next resistances are seen at 1.1242 (Jun 30 high), and 1.1275 (Jun 29 high) ahead of 1.1300 (psychological level). On the other hand, supports could be found at 1.1106 (Aug 20 low), 1.1074 (50-day SMA) and 1.1050 (100-day SMA).