13 Feb 2015
EUR/USD hits fresh weekly highs at 1.1430
FXStreet (Mumbai) - EUR/USD stormed its way above 1.14 thresholds in the mid-Asian session, extending gains from the previous session, largely on the back of renewed US dollar sell-off across the board.
EUR/USD rises from 1.1398 levels
The EUR/USD now trades higher by 0.19% at 1.1425, hovering near fresh weekly highs posted at 1.1430 levels few minutes ago. EUR/USD extended gains and climbed further after the US dollar slipped versus major currencies as worse-than expected US retail sales and employment data continue dampen investors’ sentiments.
The US dollar index, measuring the relative strength of the greenback versus six major currencies, dropped to fresh weekly lows ahead of 94 levels, down by -0.23% on the day.
Meanwhile, traders may now focus on the growth numbers across the Euro zone economies later in the day for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 levels, above which gains could be extended to 1.1488 levels. On the flip side, support is seen at 1.1360 levels, below which it could extend losses to 1.1316 levels.
EUR/USD rises from 1.1398 levels
The EUR/USD now trades higher by 0.19% at 1.1425, hovering near fresh weekly highs posted at 1.1430 levels few minutes ago. EUR/USD extended gains and climbed further after the US dollar slipped versus major currencies as worse-than expected US retail sales and employment data continue dampen investors’ sentiments.
The US dollar index, measuring the relative strength of the greenback versus six major currencies, dropped to fresh weekly lows ahead of 94 levels, down by -0.23% on the day.
Meanwhile, traders may now focus on the growth numbers across the Euro zone economies later in the day for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 levels, above which gains could be extended to 1.1488 levels. On the flip side, support is seen at 1.1360 levels, below which it could extend losses to 1.1316 levels.