16 Feb 2015
EUR/USD supported above 1.1400, Greece-EU Meet in focus
FXStreet (Mumbai) - EUR/USD remains elevated in the early European morning, holding on to gains from the Asian session as traders closely monitor Greece and the country's continuous efforts to renegotiate its bailout terms with the Euro group and the likely outcome due later in the day.
EUR/USD inching towards fresh highs
The EUR/USD now trades higher by 0.23% at 1.1414, hovering near intraday highs posted at 1.1422 levels in the Asian session. EUR/USD remains resilient above 1.14 threshold as markets await fresh updates ahead of the much anticipated talks between Greece and euro zone ministers later in the session. Moreover, disappointing US data over the last week also helped the shared currency to firm higher on US dollar weakness.
Meanwhile, EUR/USD is expected to remain underpinned as traders now focus on the Euro zone trade balance data and the second round of Greece – EU talks for any conclusion on the Greek debt-relief program.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1443 (Feb 13 High) levels, above which gains could be extended to 1.1486 (Feb 4 High) levels. On the flip side, support is seen at 1.1378 (Feb 13 Low) levels, below which it could extend losses to 1.1315 (Feb 4 Low) levels.
EUR/USD inching towards fresh highs
The EUR/USD now trades higher by 0.23% at 1.1414, hovering near intraday highs posted at 1.1422 levels in the Asian session. EUR/USD remains resilient above 1.14 threshold as markets await fresh updates ahead of the much anticipated talks between Greece and euro zone ministers later in the session. Moreover, disappointing US data over the last week also helped the shared currency to firm higher on US dollar weakness.
Meanwhile, EUR/USD is expected to remain underpinned as traders now focus on the Euro zone trade balance data and the second round of Greece – EU talks for any conclusion on the Greek debt-relief program.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1443 (Feb 13 High) levels, above which gains could be extended to 1.1486 (Feb 4 High) levels. On the flip side, support is seen at 1.1378 (Feb 13 Low) levels, below which it could extend losses to 1.1315 (Feb 4 Low) levels.