9 Apr 2015
EUR/USD hardly reacts to German data ignored
FXStreet (Mumbai) - The US dollar is in demand at the onset of the European session, pushing the EUR/USD pair to session lows at 1.0750 even though the official data showed German industrial production ticked higher in February.
EUR unresponsive to German data
The shared currency hardly moved despite an uptick in the German industrial production and Trade surplus in February. The industrial production rose 0.2% on Month, while the trade surplus improved slightly to EUR 19.7 billion from EUR 19.6 billion in January.
The pair moved from 1.0748 to 1.0760 levels as the bid tone on the US dollar persists after the FOMC minutes showed policy makers stand divided on a June rate hike.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0787, above which gains could be extended to 1.0825. On the flip side, a break below 1.0748 could drive the pair lower to 1.0711.
EUR unresponsive to German data
The shared currency hardly moved despite an uptick in the German industrial production and Trade surplus in February. The industrial production rose 0.2% on Month, while the trade surplus improved slightly to EUR 19.7 billion from EUR 19.6 billion in January.
The pair moved from 1.0748 to 1.0760 levels as the bid tone on the US dollar persists after the FOMC minutes showed policy makers stand divided on a June rate hike.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0787, above which gains could be extended to 1.0825. On the flip side, a break below 1.0748 could drive the pair lower to 1.0711.