30 Mar 2015
EUR/USD sell-off stalls near key Fibo level
FXStreet (Mumbai) - The wave of selling in the EUR/USD pair seems to have stalled around 1.0825, which is the 38.2% Fib retracement level of the move from 1.0461 to 1.1050.
USD rebounds as markets focus on Greece
The US dollar made a strong comeback on the back of a rise in the Treasury yields. Consequently, the EUR/USD pair fell to 1.0825 levels from the high of 1.0882 levels. Investors now await the preliminary German CPI reading for March and updates regarding Greece issue. Moreover, the markets may look past the German CPI, focusing entirely on whether Greece is able to unlock the next round of bailout funding.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0837, down 0.48% for the day. The immediate support is seen at 1.0825, under which losses could be extended to 1.08. On the flip side, resistance is seen at 1.0867 (10-DMA) and 1.0912 levels.
USD rebounds as markets focus on Greece
The US dollar made a strong comeback on the back of a rise in the Treasury yields. Consequently, the EUR/USD pair fell to 1.0825 levels from the high of 1.0882 levels. Investors now await the preliminary German CPI reading for March and updates regarding Greece issue. Moreover, the markets may look past the German CPI, focusing entirely on whether Greece is able to unlock the next round of bailout funding.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0837, down 0.48% for the day. The immediate support is seen at 1.0825, under which losses could be extended to 1.08. On the flip side, resistance is seen at 1.0867 (10-DMA) and 1.0912 levels.