EUR/USD rises to test daily highs

FXStreet (Córdoba) – EUR/USD bottomed at 1.0866 but after Wall Street opening bell turned to the upside and currently is testing daily highs, slightly below 1.0950.

The short term momentum favors the euro but now is facing an important short term resistance. To the downside, once again the area around 1.0865 capped the decline as it happened on Tuesday.

Greek headlines keep coming but no deal has been reached. According to the latest report, European Union officials mentioned that no deal with Greece will be sign by Sunday as disagreement continues on areas like pension, sales tax and surplus.

The euro was not affected by the latest news and also by US economic data, that failed to boost the US dollar. The pending home sales surpassed expectations but greenback dropped in the market. Stock in Wall Street are falling: the Dow Jones is down 0.40% and the Nasdaq falls 0.34%.

EUR/USD bottomed at 1.0866 but after Wall Street opening bell turned to the upside and currently is testing daily highs, slightly below 1.0950.


(Market News Provided by FXstreet)