18 May 2015
EUR/USD testing lows near 1.1425
FXStreet (Mumbai) - The shared currency started the week on a softer tone and keeps losses versus the American dollar in the early European trades, with EUR/USD easing off lows on the 1.14 handle. The major remains heavy on the back of a solid recovery seen in the greenback against its major competitors following Friday’s US data led slide.
EUR/USD capped by 1.1450
The EUR/USD trades -0.19% lower at 1.1427, retreating from fresh session lows at 1.1420. EUR/USD took a breather in its ongoing upward streak and corrected slight after heavy gains witnessed on Friday after the U dollar was badly hurt following the release of poor US industrial production and consumer sentiments data which pushed back rate-hike bets for now.
While weaker German bund yields standing at 0.635%, down -0.78% on the day also drags EUR/USD lower. Moreover, latest chatter surrounding Greece and IMF’s leaked memo stating trhat the embattled country might be on the verge of default also added to the losses in the main currency pair.
There’s nothing much to report in the day ahead, except for German Buba monthly report, while Greece headlines will continue to weigh.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Today’s High) levels, above which gains could be extended to 1.1467 (May 15 High) levels. On the flip side, support is seen at 1.1400 below which it could extend losses to 1.1324 (May 15 Low) levels.
EUR/USD capped by 1.1450
The EUR/USD trades -0.19% lower at 1.1427, retreating from fresh session lows at 1.1420. EUR/USD took a breather in its ongoing upward streak and corrected slight after heavy gains witnessed on Friday after the U dollar was badly hurt following the release of poor US industrial production and consumer sentiments data which pushed back rate-hike bets for now.
While weaker German bund yields standing at 0.635%, down -0.78% on the day also drags EUR/USD lower. Moreover, latest chatter surrounding Greece and IMF’s leaked memo stating trhat the embattled country might be on the verge of default also added to the losses in the main currency pair.
There’s nothing much to report in the day ahead, except for German Buba monthly report, while Greece headlines will continue to weigh.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Today’s High) levels, above which gains could be extended to 1.1467 (May 15 High) levels. On the flip side, support is seen at 1.1400 below which it could extend losses to 1.1324 (May 15 Low) levels.