GREEK DENIAL SPARKS EURO BUYING
The EURUSD pair has continued to move higher in European session, after a spokesman for Greece denied reports that the country may choose to miss the next bailout payment if lenders fail to reach a deal on Greek debt relief.
Euro buying accelerated towards 1.1130 resistance after the denial came out, with the EURUSD earlier slumping to 1.1109. The pair then continued to find buying interest, pushing past 1.1148 and 1.1162 to reach a intraday high of 1.1168.
Buyers remain in control of the EURUSD whilst the pair trades above the 1.1148 level. Short term support for the pair is layered between 1.1154 and 1.1130.
The H1 time frame shows the 50 period moving average capping the recent EURUSD advance around 1.1168, with the 100 period moving average at the mentioned time frame acting as the next point of resistance at 1.1189.