EUR/USD Pierced Downtrend On 45 Billion Euro Greek Aid Offering, German Ministry of Finance Says It's Not An ACTUAL Decision

EUR/USD initially broke above the 50 day moving average and downtrend resistance when it opened tonight.  Watching to see if there's a retest.  EUR/USD is currently up 0.92% at 1.36239.  Charts below courtesy of FreeStockCharts.com.  For previous posts on the Euro click EUR/USD or FXE and watch it stream live on the real-time quote widget to your left.

Here's what is going on from Bloomberg:
"The euro rallied after European governments offered debt-burdened Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates as they try to end its fiscal crisis and restore confidence in the currency." [read full article].
But...
"The euro zone's agreement Sunday about details on an aid plan for Greece must not be misunderstood as an actual decision to provide aid, but it does justify hopes that the country will be able to refinance its debt on its own, the German Finance Ministry said Sunday." [read full DJ article at Nasdaq.com]

EUR/USD (Euro/US Dollar)

EUR/USD (zoomed in)

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