29 Jan 2015
EUR/USD hovers around 1.1300, German labour report in focus
FXStreet (Mumbai) - EUR/USD consolidated to 1.13 handle in the early European session, extending its side-trend from the previous session as traders look for fresh incentives before the release of a series of German macro data.
EUR/USD breaks above 1.1300
The EUR/USD posted fresh session highs at 1.1305 levels some minutes ago and trades now at 1.1291 levels. EUR/USD remains muted as traders remain wary ahead of the crucial German employment data and preliminary inflation report to be released later in the session. Moreover, sliding equities in the UK and Europe post the Fed decision also failed to lift the EUR/USD pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1320 levels, above which gains could be extended to 1.1374 (Jan 23 High) levels. On the flip side, support is seen at 1.1265 (5-DMA) levels, below which it could extend losses to 1.1223 (Jan 28 Low)
EUR/USD breaks above 1.1300
The EUR/USD posted fresh session highs at 1.1305 levels some minutes ago and trades now at 1.1291 levels. EUR/USD remains muted as traders remain wary ahead of the crucial German employment data and preliminary inflation report to be released later in the session. Moreover, sliding equities in the UK and Europe post the Fed decision also failed to lift the EUR/USD pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1320 levels, above which gains could be extended to 1.1374 (Jan 23 High) levels. On the flip side, support is seen at 1.1265 (5-DMA) levels, below which it could extend losses to 1.1223 (Jan 28 Low)