18 May 2015
EUR/USD flirting with 1.14
FXStreet (Mumbai) - The shared currency recovered half its slide against the American dollar in the mid-European trading, with EUR/USD extending its recovery and regains 1.14 handle. The main currency pair trimmed losses largely on the back of rising German bund yields which resumed their upward moves today. While a slight retreat in the greenback after a strong bounce-back also lent a helping hand to the major.
EUR/USD rises from 1.1387
The EUR/USD trades -0.44% lower at 1.1401, wavering around 1.14 handle. EUR/USD recovered from lows as rising German bund yields, which stands at 0.663%, up nearly 4% on the day, supports the main currency pair.
Moreover, the major received support after the US dollar backed-off highs and shed some gains versus its major competitors. The US dollar index eased off 93.84 highs and now trades at 93.62 levels.
However, uncertainties surrounding Greece after IMF’s leaked memo stating that the embattled country might be on the verge of default, keeps the upside capped.
There’s nothing much to report in the day ahead, except for German Buba monthly report, while the focus shifts to a flurry of EZ economic releases later in the week. While Wednesday FOMC minutes also keeps markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Today’s High) levels, above which gains could be extended to 1.1467 (May 15 High) levels. On the flip side, support is seen at 1.1367 (Today’s Low) below which it could extend losses to 1.1324 (May 15 Low) levels.
EUR/USD rises from 1.1387
The EUR/USD trades -0.44% lower at 1.1401, wavering around 1.14 handle. EUR/USD recovered from lows as rising German bund yields, which stands at 0.663%, up nearly 4% on the day, supports the main currency pair.
Moreover, the major received support after the US dollar backed-off highs and shed some gains versus its major competitors. The US dollar index eased off 93.84 highs and now trades at 93.62 levels.
However, uncertainties surrounding Greece after IMF’s leaked memo stating that the embattled country might be on the verge of default, keeps the upside capped.
There’s nothing much to report in the day ahead, except for German Buba monthly report, while the focus shifts to a flurry of EZ economic releases later in the week. While Wednesday FOMC minutes also keeps markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Today’s High) levels, above which gains could be extended to 1.1467 (May 15 High) levels. On the flip side, support is seen at 1.1367 (Today’s Low) below which it could extend losses to 1.1324 (May 15 Low) levels.