30 Jan 2015
EUR/USD posts fresh session highs, German data in focus
FXStreet (Mumbai) - EUR/USD extended gains and remained elevated in the early European morning, withstanding upbeat US jobs data induced USD rally, as traders now await German retail sales data which will kick-off a string of crucial EUR economic releases due for the day.
Gains capped by 10-DMA
The EUR/USD pair trades close to fresh session highs clocked at 1.1344 levels, in yet another attempt to break through the accumulation phase. EUR/USD advanced for the second straight session, despite the strengthening USD on positive surprise from the labour market.
The pair is expected to remain supported ahead of a batch of significant macro data from the Euro zone and the US later today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1366 (Jan 29 High) levels, above which gains could be extended to 1.1422 (Jan 27 High) levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1262 (Jan 29 Low)
Gains capped by 10-DMA
The EUR/USD pair trades close to fresh session highs clocked at 1.1344 levels, in yet another attempt to break through the accumulation phase. EUR/USD advanced for the second straight session, despite the strengthening USD on positive surprise from the labour market.
The pair is expected to remain supported ahead of a batch of significant macro data from the Euro zone and the US later today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1366 (Jan 29 High) levels, above which gains could be extended to 1.1422 (Jan 27 High) levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1262 (Jan 29 Low)