28 Apr 2015
EUR/USD approaches 1.1000
FXStreet (Córdoba) - EUR/USD was lifted to fresh 3-week highs during the New York session as the dollar faced renewed selling pressure on the back of disappointing US consumer confidence data.
The dollar fell across the board, EUR/USD managed to break above the 1.0950 resistance area and stretched to its highest level since Apr 6 at 1.0989. The pair continues to trade on the upper-side of today's range, posting a 0.74% daily gain, with 1.1000 as immediate target.
If EUR/USD breaks above 1.10, next resistances could be found at 1.1035 (Apr 6 high) and 1.1052 (Mar 26 high). On the flip side, immediate supports are seen at 1.0860 (daily low) and 1.0819 (Apr 27 low).
Market attention now turns to US GDP figures and FOMC's verdict on Wednesday. The greenback has been suffering over the last weeks amid concerns the US economy is stalling as indicators continue to disappoint investors. Expectations of a June lift-off have almost completely faded while many analyst begin to bet for September.
The dollar fell across the board, EUR/USD managed to break above the 1.0950 resistance area and stretched to its highest level since Apr 6 at 1.0989. The pair continues to trade on the upper-side of today's range, posting a 0.74% daily gain, with 1.1000 as immediate target.
If EUR/USD breaks above 1.10, next resistances could be found at 1.1035 (Apr 6 high) and 1.1052 (Mar 26 high). On the flip side, immediate supports are seen at 1.0860 (daily low) and 1.0819 (Apr 27 low).
Market attention now turns to US GDP figures and FOMC's verdict on Wednesday. The greenback has been suffering over the last weeks amid concerns the US economy is stalling as indicators continue to disappoint investors. Expectations of a June lift-off have almost completely faded while many analyst begin to bet for September.