1 May 2015
EUR/USD retreats from 1.1285 – fresh 3-month highs
FXStreet (Mumbai) - EUR/USD extends its upward moves in the European session, as the greenback slipped further into losses against its major competitors, driving the shared currency higher towards 1.13 threshold.
EUR/USD eyes 1.13
The EUR/USD trades higher by 0.35% at 1.1263 levels, drifting away from fresh 3-month highs reached at 1.0285 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 the upside capped by the 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 1.1285 (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 eyes 1.13
The EUR/USD trades higher by 0.35% at 1.1263 levels, drifting away from fresh 3-month highs reached at 1.0285 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 the upside capped by the 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 1.1285 (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.