13 Feb 2015
EUR/USD wavers near weekly highs, German data eyed
FXStreet (Mumbai) - EUR/USD holds near fresh highs in the early European morning, extending gains from the previous session, as the US dollar continues to slip further versus its major peers.
EUR/USD hits fresh weekly highs at 1.1440
The EUR/USD now trades higher by 0.29% at 1.1434, hovering near fresh weekly highs posted at 1.1440 levels some minutes ago. EUR/USD continues to edge higher after weakening US dollar revives fresh EUR demand ahead of major economic releases from the Euro zone.
The US dollar index, measuring the relative strength of the greenback versus six major currencies, dropped to fresh weekly lows below 94 levels and now trades at 94.05 levels down by -0.26% 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 hits fresh weekly highs at 1.1440
The EUR/USD now trades higher by 0.29% at 1.1434, hovering near fresh weekly highs posted at 1.1440 levels some minutes ago. EUR/USD continues to edge higher after weakening US dollar revives fresh EUR demand ahead of major economic releases from the Euro zone.
The US dollar index, measuring the relative strength of the greenback versus six major currencies, dropped to fresh weekly lows below 94 levels and now trades at 94.05 levels down by -0.26% 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.