25 Mar 2015
EUR/USD slips back to 1.0960
FXStreet (Edinburgh) - After hitting the 1.1020 area, EUR/USD is now giving away part of the earlier gains and is deflating to the 1.1065/60 band.
EUR/USD propped up by poor US data
The buying interest around the shared currency has been growing bigger on Wednesday, lifting spot back above the 1.1000 handle, albeit the breakout lacked conviction so far, motivating the quickly pullback to the current 1.0960 region.
With developments around Greece in the back burner today, positive IFO readings and a disappointing US docket sent the pair higher, extending the weekly upside and challenging the recent tops near 1.1030.
EUR/USD important levels
The pair is now up 0.45% at 1.0973 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).
EUR/USD propped up by poor US data
The buying interest around the shared currency has been growing bigger on Wednesday, lifting spot back above the 1.1000 handle, albeit the breakout lacked conviction so far, motivating the quickly pullback to the current 1.0960 region.
With developments around Greece in the back burner today, positive IFO readings and a disappointing US docket sent the pair higher, extending the weekly upside and challenging the recent tops near 1.1030.
EUR/USD important levels
The pair is now up 0.45% at 1.0973 with the next resistance at 1.1029 (high Mar.24) ahead of 1.1062 (high Mar.18) and then 1.1115 (high Mar.5). On the flip side, a breakdown of 1.0891 (low Mar.24) would open the door to 1.0886 (21-d MA) and then 1.0768 (hourly low Mar.23).