Some details are emerging from the talks about a deal for Greece: apparently, there is no full deal, at least not yet. There is an agreement that Greece should reach a debt-to-GDP level of 124% until 2020. However, there are no details on how to do that.
A package of extra debt cutting measures in the size of no less than 20% of GDP is yet to be agreed upon. This is not good enough for EUR/USD, which crawls back under 1.30.
In addition:Â EUR/USD Close to Long-Term Downtrend Resistance
Here is what Reuters reports:
It was not immediately clear how the debt would be reduced from its currently forecast level of 144 percent in 2020 to the target of 124 percent
EUR/USD is now falling back to 1.2985, after having already crossed the 1.30 line. Support is at 1.2960. For more levels, events and analysis, see the EUR/USD forecast.
