19 Jan 2015
EUR/USD consolidates above 1.1550; awaits fresh incentives
FXStreet (Mumbai) - EUR/USD consolidates above 1.1550 levels, trading in a very tight range in the late-Asian session, pulling away from fresh twelve year lows of 1.1459 levels reached in the previous session.
Currently, the EUR/USD traded modestly flat at 1.1562, locked in a narrow range between 1.1553-1.1575 levels. The EUR/USD traded steady in absence of any significant data for balance of the day as the US remains closed on a national holiday. EUR/USD may remain pressured as traders now speculate an aggressive quantitative easing program on cards at the European Central Bank’s (ECB) meeting later this week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1622 (5-DMA) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.15 levels, below which it could extend losses to 1.1459 (Jan 16 Low) levels.
Currently, the EUR/USD traded modestly flat at 1.1562, locked in a narrow range between 1.1553-1.1575 levels. The EUR/USD traded steady in absence of any significant data for balance of the day as the US remains closed on a national holiday. EUR/USD may remain pressured as traders now speculate an aggressive quantitative easing program on cards at the European Central Bank’s (ECB) meeting later this week.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1622 (5-DMA) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.15 levels, below which it could extend losses to 1.1459 (Jan 16 Low) levels.