29 Apr 2015
EUR/USD struggles to sustain above 1.10
FXStreet (Mumbai) - The EUR/USD is being offered above 1.10 levels, making it difficult for the pair to sustain above the same due to the rise in the benchmark ten-year treasury yield in the US.
Awaits German preliminary CPI
The immediate trigger comes in the form of German preliminary CPI reading for April. The cost of living is expected to have dropped 0.1% month-on-month, while year-on-year price pressures are expected to have ticked 0.4% higher.
Moreover, the American dollar is making a comeback, as the ten-year yield in the US rose to a one-month high of 2.032%.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1050, above which the pair could rise to 1.10. On the flip side, a repeated failure to sustain above 1.10 could push the pair down to 1.0958.
Awaits German preliminary CPI
The immediate trigger comes in the form of German preliminary CPI reading for April. The cost of living is expected to have dropped 0.1% month-on-month, while year-on-year price pressures are expected to have ticked 0.4% higher.
Moreover, the American dollar is making a comeback, as the ten-year yield in the US rose to a one-month high of 2.032%.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1050, above which the pair could rise to 1.10. On the flip side, a repeated failure to sustain above 1.10 could push the pair down to 1.0958.