20 Mar 2015
EUR/USD: Stuck in a range
FXStreet (Mumbai) - Amid the lack of major fundamental triggers, the EUR/USD pair finds itself stuck largely in the range of 1.0660-1.0690 levels.
Supported around 1.0660, gains capped by Treasury yields
The pair saw revival each time it dipped to levels around 1.0660, while the gains have been capped by the recovery in the US Treasury yields. The 10-year yield has recovered to trade almost its entire losses as it trades at 1.974%. The recovery in the yield, so far, has ensured the pair stayed below 1.0690-1.07 levels.
Meanwhile, the Eurozone current account data failed to have any major impact on the pair.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0679; up 0.20% for the day. The immediate resistance is seen at 1.0690, above which gains could be extended to 1.0720. On the flip side, a break below 1.0660 could drive the pair lower to 1.0630.
Supported around 1.0660, gains capped by Treasury yields
The pair saw revival each time it dipped to levels around 1.0660, while the gains have been capped by the recovery in the US Treasury yields. The 10-year yield has recovered to trade almost its entire losses as it trades at 1.974%. The recovery in the yield, so far, has ensured the pair stayed below 1.0690-1.07 levels.
Meanwhile, the Eurozone current account data failed to have any major impact on the pair.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0679; up 0.20% for the day. The immediate resistance is seen at 1.0690, above which gains could be extended to 1.0720. On the flip side, a break below 1.0660 could drive the pair lower to 1.0630.