Back
10 Apr 2015
EUR/USD supported above 1.0650
FXStreet (Mumbai) - EUR/USD continues its gradual recovery mode ahead of Europe open, stalling four consecutive days of declines, largely as the US dollar paused its upsurge against its major rivals after the recent FOMC and US jobs data inspired rally.
EUR/USD steadies below 1.0700
The EUR/USD trades higher by 0.17% at 1.0676 levels, retreating from 1.0684 highs. EUR/USD edged slightly higher this session, correcting heavy losses seen in the previous session after the US dollar shot to fresh three week highs versus the shared currency bolstered by above estimates US unemployment claims data and hawkish FOMC minutes.
Further, reports that Greece successfully met its Thursday EUR459m April loan repayment deadline also failed to lift the euro yesterday as USD remained on the driver’s seat all through the day.
EUR/USD is likely to remain buoyed so long as it holds above the key 1.0650 support, below that may resume its bearish tone knocking-off the pair to test yearly lows at 1.0460 levels.
In the day ahead, there is nothing much to report as the EUR calendar remains fairly dry and US session offers little in terms of Fed’s Lacker speech for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0718 (March 10 High) levels. On the flip side, support is seen at 1.0650 below which it could extend losses to 1.0612 (March 18 Low) levels.
EUR/USD steadies below 1.0700
The EUR/USD trades higher by 0.17% at 1.0676 levels, retreating from 1.0684 highs. EUR/USD edged slightly higher this session, correcting heavy losses seen in the previous session after the US dollar shot to fresh three week highs versus the shared currency bolstered by above estimates US unemployment claims data and hawkish FOMC minutes.
Further, reports that Greece successfully met its Thursday EUR459m April loan repayment deadline also failed to lift the euro yesterday as USD remained on the driver’s seat all through the day.
EUR/USD is likely to remain buoyed so long as it holds above the key 1.0650 support, below that may resume its bearish tone knocking-off the pair to test yearly lows at 1.0460 levels.
In the day ahead, there is nothing much to report as the EUR calendar remains fairly dry and US session offers little in terms of Fed’s Lacker speech for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0718 (March 10 High) levels. On the flip side, support is seen at 1.0650 below which it could extend losses to 1.0612 (March 18 Low) levels.