12 May 2015
EUR/USD deflates to 1.1240
FXStreet (Edinburgh) - The upside momentum in EUR/USD now seems to have found strong resistance in the 1.1280 area, prompting the current knee-jerk to the 1.1245/40 band.
EUR/USD remains firm above 1.1200
The pair managed to regain the 1.1200 handle after bottoming out in the 1.1130 area on Monday. The fresh upside momentum has been propped up by a wave of selling interest in the debt markets, taking Bund yields to fresh multi-month highs.
In addition, renewed optimism around the Greek debt renegotiation after yesterday’s Eurogroup meeting would be lending support to the euro as well.
EUR/USD levels to watch
At the moment the pair is advancing 0.77% at 1.1241 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).
EUR/USD remains firm above 1.1200
The pair managed to regain the 1.1200 handle after bottoming out in the 1.1130 area on Monday. The fresh upside momentum has been propped up by a wave of selling interest in the debt markets, taking Bund yields to fresh multi-month highs.
In addition, renewed optimism around the Greek debt renegotiation after yesterday’s Eurogroup meeting would be lending support to the euro as well.
EUR/USD levels to watch
At the moment the pair is advancing 0.77% at 1.1241 with the next hurdle at
1.1290 (high May 8) ahead of 1.1392 (high May 7) and finally 1.1400 (psychological level). On the flip side, a breakdown of 1.1131 (low May 11) would target 1.1067 (low May 5) en route to 1.1059 (38.2% of 1.0521-1.1392).