19 Feb 2015
EUR/USD falls to fresh lows below 1.1400
FXStreet (Mumbai) - EUR/USD shaved-off previous gains and dropped to fresh session lows, breaking below 1.1400 levels, on the back of a broad based US dollar recovery against its major counterparts.
EUR/USD hovers around 1.14 threshold
The EUR/USD now trades flat at 1.1391, quickly recovered from fresh session lows at 1.1386 levels. EUR/USD slipped from session highs in an immediate reaction to a rebounding US dollar across the board. The US dollar index, which measures the relative strength of the greenback versus six major currencies, bounced-back to new daily highs at 94.31, up 0.17% on the day.
Meanwhile, traders now shift their attention towards ECB Meeting Accounts, a detailed record of the ECB Governing Board's most recent meeting and significant US macro data due later in the day for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Feb 17 High) levels, above which gains could be extended to 1.1488 (Feb 6 High) levels. On the flip side, support is seen at 1.1332 levels, below which it could extend losses to 1.1301 levels.
EUR/USD hovers around 1.14 threshold
The EUR/USD now trades flat at 1.1391, quickly recovered from fresh session lows at 1.1386 levels. EUR/USD slipped from session highs in an immediate reaction to a rebounding US dollar across the board. The US dollar index, which measures the relative strength of the greenback versus six major currencies, bounced-back to new daily highs at 94.31, up 0.17% on the day.
Meanwhile, traders now shift their attention towards ECB Meeting Accounts, a detailed record of the ECB Governing Board's most recent meeting and significant US macro data due later in the day for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Feb 17 High) levels, above which gains could be extended to 1.1488 (Feb 6 High) levels. On the flip side, support is seen at 1.1332 levels, below which it could extend losses to 1.1301 levels.