20 Feb 2015
EUR/USD: Triple top on the hourly charts
FXStreet (Mumbai) - The EUR/USD pair declined for the third time since last Friday after facing rejection in the resistance zone of 1.1440-1.1450. The German government’s rejection of the Greece’s proposal to extend loan program pushed the shared currency lower.
EUR under pressure ahead of the Eurogroup meet
The shared currency remains under pressure ahead of the Eurogroup meeting scheduled later today to decide upon the Greece’s proposal to extend its loan program. There is also a host of preliminary PMI manufacturing data due for release across the Eurozone. An upbeat PMI data could see a minor revival in the EUR/USD pair.
Meanwhile, the pair is also trading below the 38.2% retracement of the uptrend from 1.1096-1.1532 located at 1.1365. The pair currently trades at 1.1362; down 0.05% lower.
EUR/JPY Technical Levels
The immediate support is located at 1.1342, under which losses could be extended to 1.1314 (50% Fib retracement level). On the flip side, resistance is seen at 1.1365 and 1.1429 levels.
EUR under pressure ahead of the Eurogroup meet
The shared currency remains under pressure ahead of the Eurogroup meeting scheduled later today to decide upon the Greece’s proposal to extend its loan program. There is also a host of preliminary PMI manufacturing data due for release across the Eurozone. An upbeat PMI data could see a minor revival in the EUR/USD pair.
Meanwhile, the pair is also trading below the 38.2% retracement of the uptrend from 1.1096-1.1532 located at 1.1365. The pair currently trades at 1.1362; down 0.05% lower.
EUR/JPY Technical Levels
The immediate support is located at 1.1342, under which losses could be extended to 1.1314 (50% Fib retracement level). On the flip side, resistance is seen at 1.1365 and 1.1429 levels.