13 Jan 2015
EUR/USD trades above 5-DMA
FXStreet (Mumbai) - The single currency remains elevated against the US dollar in the mid-Asian session, after the US dollar took a breather as the remaining optimism from US session’s strong labour data diminished.
Currently, the EUR/USD pair trades higher by 0.19% at 1.1856 levels, inching towards fresh daily highs at 1.1860 levels posted few minutes ago. EUR/USD edged higher as the US dollar weakening across the board after average hourly earnings fell in the US, despite an uptick in the labour market conditions index. However, EUR/USD remains exposed to downside risk ahead of European Central Bank’s (ECB) upcoming meeting later this month.
Meanwhile, markets now await a batch of crucial economic releases from the Euro-zone and the US in the week ahead which may provide fresh cues on the direction of the major currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1881 (10-DMA) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.18 levels, below which it could extend losses to 1.1753 levels.
Currently, the EUR/USD pair trades higher by 0.19% at 1.1856 levels, inching towards fresh daily highs at 1.1860 levels posted few minutes ago. EUR/USD edged higher as the US dollar weakening across the board after average hourly earnings fell in the US, despite an uptick in the labour market conditions index. However, EUR/USD remains exposed to downside risk ahead of European Central Bank’s (ECB) upcoming meeting later this month.
Meanwhile, markets now await a batch of crucial economic releases from the Euro-zone and the US in the week ahead which may provide fresh cues on the direction of the major currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1881 (10-DMA) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.18 levels, below which it could extend losses to 1.1753 levels.