Forex: EUR/USD jumps to 1.3047 as Cyprus and EU agree on a draft deal

FXstreet.com (Córdoba) - The euro rose across the board as a bailout for Cyprus approaches after authorities reach consensus on main issues. The EUR/USD rose from 1.2980 to 1.3047 reaching the highest price since March 15 and currently remains near the highs. Cyprus and the European Union had agreed on a draft that includes proposals to bailout banks.

The euro rose across the board after the initial reports of a deal. The EUR/USD is currently trading at 1.3026, a gain of 0.51%. Above 1.3030, the next resistance is located at 1.3070. To the downside support levels lie at 1.3010, 1.2970 and 1.2950.