7 Apr 2015
EUR/USD heavy below 1.09, Greece back in focus
FXStreet (Mumbai) - EUR/USD dived deeper in red during the European session, falling back on the 1.09 handle, mainly driven by a strong US dollar rebound against its major competitors, erasing all NFP-induced losses.
EUR/USD slips from 1.0901
The EUR/USD plunged -0.70% and trades at 1.0844 levels, having posted fresh three-day lows at 1.0834 levels. EUR/USD resumed its pre-NFP bearish tone and was heavily sold-off closer to 1.08 barrier, largely on the back of a solid pull-back in the greenback as September Fed rate-hike bets still remain intact.
The major remained uninspired by the latest impressive Euro area PMIs readings which revealed that German services accelerating their activity in March while EMU services PMI climbed near 4-yr highs.
EUR/USD also remains pressured as markets now closely watch developments from the Greece front ahead of its April 9 repayment deadline to IMF for further impacts on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0955 levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0862 below which it could extend losses to 1.0800 levels.
EUR/USD slips from 1.0901
The EUR/USD plunged -0.70% and trades at 1.0844 levels, having posted fresh three-day lows at 1.0834 levels. EUR/USD resumed its pre-NFP bearish tone and was heavily sold-off closer to 1.08 barrier, largely on the back of a solid pull-back in the greenback as September Fed rate-hike bets still remain intact.
The major remained uninspired by the latest impressive Euro area PMIs readings which revealed that German services accelerating their activity in March while EMU services PMI climbed near 4-yr highs.
EUR/USD also remains pressured as markets now closely watch developments from the Greece front ahead of its April 9 repayment deadline to IMF for further impacts on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0955 levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0862 below which it could extend losses to 1.0800 levels.