EUR/JPY is surging on high hopes for a Greek deal

EUR/USD is up 326 pips to 137.18 today to the highest since July 1.

Bids around the 100-day moving average and the late-May low proved to be the springboard for today's rally. At the moment, the pair is flirting with the 200-day moving average. The 21-day MA and the mid-June low at 138.00 are resistance.

Here's a look at the orderboard.

Bids:

  • 136.55/50 - orders building
  • 136.34 - 55-dma
  • 136.00 - bids building
  • 135.55
  • 135.50
  • 135.15

Offers:

  • 137.29 - session high
  • 137.42 - July 1 high
  • 137.50 strong offers, stops above
  • 138.00 offers ahead
  • 138.10 - 61.8% retracement of June decline
  • 138.50 - strong offers