17 Mar 2015
EUR/USD wavers ahead of key data sets
FXStreet (Mumbai) - The EUR/USD is back below 1.06, after having set a session high of 1.0614 ahead of the Germany Zew survey data and the Eurozone CPI data. The shared currency could have retraced tracking fresh signs of weakness in the German Bund yields.
EUR/USD: awaits breakout
The technical charts show, the pair has been restricted within the range of 1.0550 to 1.0618 since the US session yesterday. A breakout from the range could be expected post the release of the German Zew survey data and the Eurozone CPI data. An upbeat Zew survey coupled with an inflation data, that highlights stability in the prices in the Eurozone, could result in gains over and above 1.0618 levels. On the other hand, disappointing data could push the pair well below the lower end of the range.
EUR/USD Technical Levels
The pair now trades at 1.0589. The immediate resistance is seen at 1.0618, above another resistance is seen at 1.0650 levels. On the other hand, a break below 1.0550, could see the pair re-test 1.05 levels.
EUR/USD: awaits breakout
The technical charts show, the pair has been restricted within the range of 1.0550 to 1.0618 since the US session yesterday. A breakout from the range could be expected post the release of the German Zew survey data and the Eurozone CPI data. An upbeat Zew survey coupled with an inflation data, that highlights stability in the prices in the Eurozone, could result in gains over and above 1.0618 levels. On the other hand, disappointing data could push the pair well below the lower end of the range.
EUR/USD Technical Levels
The pair now trades at 1.0589. The immediate resistance is seen at 1.0618, above another resistance is seen at 1.0650 levels. On the other hand, a break below 1.0550, could see the pair re-test 1.05 levels.