FXStreet (Bali) – EUR/USD is trading slightly higher at the Asian open, currently at 1.1367 against 1.1346 in the last NY close, as hopes for a Greek deal remain, following the latest proposal by Greek PM Tsirpas – details yet to be revealed – to EU ahead of Monday´s Eurozone summit meeting.
Key Quotes – Valeria Bednarik, Chief Analyst at FXStreet
“A special summit between European authorities has been scheduled for this Monday, pretty much a last attempt to help the troubled country remain in the EU. Over the weekend, Greece announced it has delivered a new proposal to its counterparts, but there’s no other news in the matter ahead of a new weekly opening.”
“As for the technical picture, the 4 hours chart shows that the bullish tone prevails, with the pair developing above its moving averages and the technical indicators heading north above their mid-lines.”
“With the price holding mid-range in the 1.1300 region, the critical resistance for this upcoming days stands around 1.1466, last May monthly high, level that can be reached, should Greece made a deal with its creditors, with a break above it exposing February monthly high of 1.1533.”
“The key support, in case of another failure, stands at 1.1250, a strong static support level, with a break below it exposing the 1.1120 price zone.”
(Market News Provided by FXstreet)