1 May 2015
EUR/USD eases-off 3-month highs at 1.1260
FXStreet (Mumbai) - EUR/USD remains elevated in the European session, retreating from fresh three-month highs, as the shared currency prolongs its corrective mode against the US dollar from 1.51 handle with a break above 1.1280-1.13 confirming further bullish momentum.
EUR/USD supported at 1.1200
The EUR/USD trades higher by 0.35% at 1.1263 levels, hovering near fresh 3-month highs reached at 1.0270 sum time ago. EUR/USD extended gains mainly driven by a technically driven rally near key breakouts, despite lower German 10-year bond yields which now trades at 0.357%, recording a -1.56% loss on the day.
Moreover, a slight retracement in the US dollar versus its major counterparts also added to the strength in the major. While thin volumes have also spurred higher volatility driving the EUR/USD pair to fresh multi-month highs with markets watching key 1.1280-1.13 resistance zone.
Meanwhile, traders may now focus on a flurry of US data due later in the day for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1270 (Today’ High) levels, above which gains could be extended to 1.13 levels. On the flip side, support is seen at 1.1200 (Today’s Low) below which it could extend losses to 1.1153 (March 3 Low) levels.
EUR/USD supported at 1.1200
The EUR/USD trades higher by 0.35% at 1.1263 levels, hovering near fresh 3-month highs reached at 1.0270 sum time ago. EUR/USD extended gains mainly driven by a technically driven rally near key breakouts, despite lower German 10-year bond yields which now trades at 0.357%, recording a -1.56% loss on the day.
Moreover, a slight retracement in the US dollar versus its major counterparts also added to the strength in the major. While thin volumes have also spurred higher volatility driving the EUR/USD pair to fresh multi-month highs with markets watching key 1.1280-1.13 resistance zone.
Meanwhile, traders may now focus on a flurry of US data due later in the day for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1270 (Today’ High) levels, above which gains could be extended to 1.13 levels. On the flip side, support is seen at 1.1200 (Today’s Low) below which it could extend losses to 1.1153 (March 3 Low) levels.