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Forex: EUR/USD rises on new Greek government

By FXstreet.com,  June 20, 2012, 07:46:00 AM EDT

FXstreet.com (Barcelona) - The socialist leader of the Pasok party announced today that Greece has a new government, a coalition between Samaras' New Democracy and Venizelos' Pasok, after seeing rejected its invitation to the Democratic Left, which also supports the new government despite choosing to remain as opposition.

The cabinet make-up will be discussed on Wednesday and its key issue for now is to form a bailout renegotiation team.
The EUR/USD regained 1.2700 level and has moved as high as 1.2716 ahead of the American session that include in its economic calendar the FOMC meeting policy announcement.

"The outlook here is bullish above 1.2630 intraday support, for a break through 1.2731, towards 1.2820", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to 1.2435 as support.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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