17 Aug 2015
EUR/USD retakes 1.1100
FXStreet (Mumbai) - The shared currency trimmed losses and recovered from lows against its US counterpart in the early European trades, with EUR/USD heading for a retest of 1.11 handle, the USD bulls loosens grip ahead of Europe open awaiting fresh incentives from the upcoming EZ trade balance data while Greece headlines also remains in focus.
EUR/USD rises from 1.1082
The EUR/USD pair trades -0.12% lower at 1.1098, bouncing-off session lows at 1.1082. The main currency pair fights hard to regain 1.11 handle largely driven by a minor retreat in the US dollar against its major competitors heading into European opening bells.
However, the EUR/USD remains in the red, erasing partial losses from the Asian session as markets now await Euro zone trade figures to set the tone for the day ahead while the development surrounding Greece will also be closely eyed ahead of big ECB repayment due this Wednesday, Aug 20.
Meanwhile, Euro zone trade data will keep traders slightly busy in a rather data-light European session ahead, while Empire State manufacturing index and NAHB housing market index will be watch for further momentum.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1123 (Aug 16 High) levels, above which gains could be extended to 1.1198 (July 13 High) levels. On the flip side, support is seen at 1.1079 (Aug 13 Low) below which it could extend losses to 1.1023 (Aug 12 Low).
EUR/USD rises from 1.1082
The EUR/USD pair trades -0.12% lower at 1.1098, bouncing-off session lows at 1.1082. The main currency pair fights hard to regain 1.11 handle largely driven by a minor retreat in the US dollar against its major competitors heading into European opening bells.
However, the EUR/USD remains in the red, erasing partial losses from the Asian session as markets now await Euro zone trade figures to set the tone for the day ahead while the development surrounding Greece will also be closely eyed ahead of big ECB repayment due this Wednesday, Aug 20.
Meanwhile, Euro zone trade data will keep traders slightly busy in a rather data-light European session ahead, while Empire State manufacturing index and NAHB housing market index will be watch for further momentum.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1123 (Aug 16 High) levels, above which gains could be extended to 1.1198 (July 13 High) levels. On the flip side, support is seen at 1.1079 (Aug 13 Low) below which it could extend losses to 1.1023 (Aug 12 Low).