FXStreet (Córdoba) – EUR/USD revisited daily highs but faltered once again ahead of the 1.1200 psychological level during the American afternoon.
EUR/USD has been propelled by hopes of an imminent deal between Greece and its international lenders, having risen more than 250 pips throughout the day to score an 11-day high of 1.1193. Dissuasive comments from Eurogroup President Jeroen Dijsselbloem cooled euro’s rally but the shared currency managed to hold onto gains.
The pair entered a sideways phase within 1.1110-1.1190 over the last hours as investors await for news coming from Eurogroup/Greece and ECB meeting tomorrow. At time of writing, EUR/USD is trading at 1.1150, recording a 2.07% gain on the day.
EUR/USD levels to watch
As for technical levels, a break above 1.1200 (psychological level) would pave the way to 1.1325 (May 13 high) with not much in the way. Immediate supports are seen at 1.0915 (daily low) and 1.0885 (Jun 1 low).
(Market News Provided by FXstreet)