7 May 2015
EUR/USD poised to attack 1.14
FXStreet (Mumbai) - The shared currency regained momentum versus its American counterpart in the European session, sending EUR/USD to fresh three month highs, largely on rallying German yields while the US dollar also witnessed a fresh offered tone against its major competitors, boosting further gains in the major.
EUR/USD rises from 1.1351
The EUR/USD trades 0.29% higher at fresh three month highs reached at 1.1388 few minutes ago. EUR/USD climbed higher after fresh round of sellers ran through the greenback as markets continue to weigh bearish US ADP employment numbers and Fed Yellen’s comments.
EUR/USD remains underpinned on the back of rising German bond yields continues to lend support to the shared currency. German 10-year bund yields skyrocketed to 0.769%, recording a whopping 34% gain on the day.
Later in the in the US session, markets may now focus on initial jobless claims, with a consensus of a rise back to 279,000.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1450 levels. On the flip side, support is seen at 1.1325 (Today’s Low) below which it could extend losses to 1.1300 levels.
EUR/USD rises from 1.1351
The EUR/USD trades 0.29% higher at fresh three month highs reached at 1.1388 few minutes ago. EUR/USD climbed higher after fresh round of sellers ran through the greenback as markets continue to weigh bearish US ADP employment numbers and Fed Yellen’s comments.
EUR/USD remains underpinned on the back of rising German bond yields continues to lend support to the shared currency. German 10-year bund yields skyrocketed to 0.769%, recording a whopping 34% gain on the day.
Later in the in the US session, markets may now focus on initial jobless claims, with a consensus of a rise back to 279,000.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1450 levels. On the flip side, support is seen at 1.1325 (Today’s Low) below which it could extend losses to 1.1300 levels.