19 Feb 2015
EUR/USD consolidates above 1.1400, ECB Meeting Accounts eyed
FXStreet (Mumbai) - EUR/USD remained elevated heading towards the European opening bells, extending its choppy trend from Asian trading as traders now await ECB Monetary Policy Meeting Accounts, while Greece debt extension plan still remains in focus.
EUR/USD supported above 5-DMA
The EUR/USD now trades higher by 0.18% at 1.1418, hovering close session highs at 1.1424 levels. EUR/USD remains lifted amid a softer USD after dovish FOMC January Meeting minutes showed a slightly dovish bias towards rate lift-off. Moreover, ongoing Greece-Euro group talks on likely extension of Greek debt repayment, rescuing the embattled nation from a possible default may also continue to support the shared currency.
Meanwhile, traders now shift their attention towards ECB Meeting Accounts, a detailed record of the ECB Governing Board's most recent meeting and significant US macro data due 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 (Feb 17 High) levels, above which gains could be extended to 1.1488 (Feb 6 High) levels. On the flip side, support is seen at 1.1396 (5-DMA) levels, below which it could extend losses to 1.1374 (10-DMA) levels.
EUR/USD supported above 5-DMA
The EUR/USD now trades higher by 0.18% at 1.1418, hovering close session highs at 1.1424 levels. EUR/USD remains lifted amid a softer USD after dovish FOMC January Meeting minutes showed a slightly dovish bias towards rate lift-off. Moreover, ongoing Greece-Euro group talks on likely extension of Greek debt repayment, rescuing the embattled nation from a possible default may also continue to support the shared currency.
Meanwhile, traders now shift their attention towards ECB Meeting Accounts, a detailed record of the ECB Governing Board's most recent meeting and significant US macro data due 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 (Feb 17 High) levels, above which gains could be extended to 1.1488 (Feb 6 High) levels. On the flip side, support is seen at 1.1396 (5-DMA) levels, below which it could extend losses to 1.1374 (10-DMA) levels.