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28 May 2015
EUR/USD defends gains above 1.0900
FXStreet (Mumbai) - The shared currency extends its overnight gains and remains supported versus the American dollar in the early European trades, keeping EUR/USD near session highs above 1.09 handle. The major remains lifted amid broad USD softness while Greece headlines stating that a deal is almost crafted also keeps the euro underpinned.
EUR/USD rises from 1.0890
The EUR/USD pair trades 0.15% at 1.0924 fresh session highs. EUR/USD keeps gains this session, extending its recovery from last US session, following headlines saying that Greece and its foreign lenders have started crafting a staff level deal.
"At the Brussels Group today procedures to draw up a staff-level agreement are beginning," a Greek source told Reuters on Wednesday.
More so, the US dollar has erased early gains from Asia and turned negative against its major competitors, adding to the gains in the EUR/USD pair.
Meanwhile, markets now on US macro releases due to be published later today for further momentum amid a data-dry EUR calendar.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0928 (April 27 High) levels, above which gains could be extended to 1.0984 (May 26 High) levels. On the flip side, support is seen at 1.0890 (Today’s Low) below which it could extend losses to 1.0862 (May 26 Low) levels.
EUR/USD rises from 1.0890
The EUR/USD pair trades 0.15% at 1.0924 fresh session highs. EUR/USD keeps gains this session, extending its recovery from last US session, following headlines saying that Greece and its foreign lenders have started crafting a staff level deal.
"At the Brussels Group today procedures to draw up a staff-level agreement are beginning," a Greek source told Reuters on Wednesday.
More so, the US dollar has erased early gains from Asia and turned negative against its major competitors, adding to the gains in the EUR/USD pair.
Meanwhile, markets now on US macro releases due to be published later today for further momentum amid a data-dry EUR calendar.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0928 (April 27 High) levels, above which gains could be extended to 1.0984 (May 26 High) levels. On the flip side, support is seen at 1.0890 (Today’s Low) below which it could extend losses to 1.0862 (May 26 Low) levels.