12 May 2015
EUR/USD eases-off highs near 1.1260
FXStreet (Mumbai) - The EUR bulls take complete control in the European session taking EUR/USD closer towards 1.13 handle, largely driven by skyrocketing German bund yields and a plummeting US dollar across the board amid a data-dry EUR calendar.
EUR/USD witnesses massive volatility
The EUR/USD trades 0.95% higher at 1.1262, having posted fresh session highs at 1.1274 some minutes ago. EUR/USD accelerated gains largely on the back of soaring German 10-yr bund yields standing at 0.692%, up 16% on the day, amid re-emergence of generalized risk-on trades.
Moreover, a free-fall witnessed in the greenback against its major competitors with the DXY plunging to the tune of -0.70% and now trades at 94.46.
Meanwhile, traders now focus on tomorrow’s German prelim GDP, CPI figures and EMU GDP data for further impact on the main currency pair amid a data-dry EUR calendar today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1346 (Feb 10 High) levels. On the flip side, support is seen at 1.1135 (Today’s Low) below which it could extend losses to 1.1070 (April 30 Low) levels.
EUR/USD witnesses massive volatility
The EUR/USD trades 0.95% higher at 1.1262, having posted fresh session highs at 1.1274 some minutes ago. EUR/USD accelerated gains largely on the back of soaring German 10-yr bund yields standing at 0.692%, up 16% on the day, amid re-emergence of generalized risk-on trades.
Moreover, a free-fall witnessed in the greenback against its major competitors with the DXY plunging to the tune of -0.70% and now trades at 94.46.
Meanwhile, traders now focus on tomorrow’s German prelim GDP, CPI figures and EMU GDP data for further impact on the main currency pair amid a data-dry EUR calendar today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1346 (Feb 10 High) levels. On the flip side, support is seen at 1.1135 (Today’s Low) below which it could extend losses to 1.1070 (April 30 Low) levels.