12 Aug 2015
EUR/USD: Bulls gathering pace near 1.1150
FXStreet (Mumbai) - The shared currency is seen picking-up pace and creeps higher versus the US dollar in the mid-European trades, lifting EUR/USD from 1.1120 region back towards 1.1150 levels. The major keeps up its bullish momentum and bounces again to conquer 1.12 handle as the euro continues to ride higher on the wave of Greek agreement optimism.
EUR/USD heads towards session highs
The EUR/USD pair trades 0.93% higher at 1.1145, extending higher in an attempt to climb above 1.1150 levels again. The EUR/USD pair keeps ticking higher as the euro receives primary support from the agreement on Greece's €86 billion bailout ahead of the crucial Greek parliament vote due on Thursday.
Moreover, the shared currency ignored the risk-off moods fuelled by the second round of yuan devaluation by People’s Bank of China (PBOC) earlier today. While the decline in the industrial production figures from the Euro zone for the 4th consecutive month also failed to dampen the sentiment around euro.
Markets now look forward to the upcoming US session for fresh cues on the EUR/USD pair. Though nothing of great significance is likely to be reported except the JOLTS jobs openings data.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1025 (Today’s Low) below which it could extend losses to 1.0959 (Aug 11 Low).
EUR/USD heads towards session highs
The EUR/USD pair trades 0.93% higher at 1.1145, extending higher in an attempt to climb above 1.1150 levels again. The EUR/USD pair keeps ticking higher as the euro receives primary support from the agreement on Greece's €86 billion bailout ahead of the crucial Greek parliament vote due on Thursday.
Moreover, the shared currency ignored the risk-off moods fuelled by the second round of yuan devaluation by People’s Bank of China (PBOC) earlier today. While the decline in the industrial production figures from the Euro zone for the 4th consecutive month also failed to dampen the sentiment around euro.
Markets now look forward to the upcoming US session for fresh cues on the EUR/USD pair. Though nothing of great significance is likely to be reported except the JOLTS jobs openings data.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1198 (July 13 High) levels, above which gains could be extended to 1.1218 (July 10 High) levels. On the flip side, support is seen at 1.1025 (Today’s Low) below which it could extend losses to 1.0959 (Aug 11 Low).