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20 Aug 2015
EUR/USD stretches to fresh 7-week highs
FXStreet (Córdoba) - EUR/USD pushed even higher during the American afternoon and printed fresh 7-week highs amid broad USD weakness which couldn’t be offset by political uncertainty in Greece after PM Tsipras stept down.
EUR/USD took another step higher and reached its strongest level since Jan 29 at 1.1244 in recent dealings. At time of writing, the pair is trading at 1.1240, 1.09% above its opening price.
Greek PM Tsipras resigned on Thursday and said elections will be held as soon as possible, expected for Sep 20. However, the euro shrugged off the news and continued to march higher against a broadly weaker dollar.
EUR/USD technical levels
As for technical levels, next resistances are seen at 1.1275 (Jun 29 high) and 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 took another step higher and reached its strongest level since Jan 29 at 1.1244 in recent dealings. At time of writing, the pair is trading at 1.1240, 1.09% above its opening price.
Greek PM Tsipras resigned on Thursday and said elections will be held as soon as possible, expected for Sep 20. However, the euro shrugged off the news and continued to march higher against a broadly weaker dollar.
EUR/USD technical levels
As for technical levels, next resistances are seen at 1.1275 (Jun 29 high) and 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).