20 Mar 2015
EUR/USD nears 1.08 levels
FXStreet (Mumbai) - The EUR/USD continues to move higher, inching closer to 1.08 levels on Greek optimism and broad based weakness seen in the US dollar.
EUR/USD: Trades above 50% Fib
The pair trades well above 50% Fib level of the post FOMC up move of 1.0461-1.1033 located at 1.0747. The pair appears to move fast towards the 38.2% retracement located at 1.0814. The shorts are getting squeezed ahead of the weekend. Consequently, the pair has moved more than 120 pips in the last couple of hours.
At the moment, the pair is trading at 1.0793, with the daily high set at 1.0797 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0814, above which gains could be extended to 1.0898 levels. On the flip side, support is seen at 1.0747 and 1.0682 levels.
EUR/USD: Trades above 50% Fib
The pair trades well above 50% Fib level of the post FOMC up move of 1.0461-1.1033 located at 1.0747. The pair appears to move fast towards the 38.2% retracement located at 1.0814. The shorts are getting squeezed ahead of the weekend. Consequently, the pair has moved more than 120 pips in the last couple of hours.
At the moment, the pair is trading at 1.0793, with the daily high set at 1.0797 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0814, above which gains could be extended to 1.0898 levels. On the flip side, support is seen at 1.0747 and 1.0682 levels.