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27 May 2015
EUR/USD extends beyond 1.0900
FXStreet (Mumbai) - The shared currency regained lost ground somewhat and advanced versus the American dollar in the early European trades, lifting EUR/USD to fresh session highs above 1.09 handle. The major extends gains from Asia largely on the back of a corrective slide in the US dollar after the upward rally witnessed on Tuesday.
EUR/USD rises from 1.0868
The EUR/USD pair trades 0.38% at fresh session highs of 1.0915. EUR/USD extends its recovery from near fresh one month lows reached in Asia, as the US dollar faced rejection at fresh monthly highs versus its major rivals and rebounds lower. The US dollar was broadly sold-off this session mainly on profit-taking after the latest US data-led strength.
On Tuesday, EUR/USD fell to fresh monthly lows at 1.0862 after a run of US macro release came out stronger than market expectations as traders saw what could be the beginning of the long-anticipated rebound in US growth momentum.
Meanwhile, EUR/USD remains pressured amid a data-light European calendar with markets now focussing on German GFK consumer climate data for fresh cues.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0928 (April 27 High) levels, above which gains could be extended to 1.0984 (May 26 High) levels. On the flip side, support is seen at 1.0862 (May 26 Low) below which it could extend losses to 1.0818 (April 27 High) levels.
EUR/USD rises from 1.0868
The EUR/USD pair trades 0.38% at fresh session highs of 1.0915. EUR/USD extends its recovery from near fresh one month lows reached in Asia, as the US dollar faced rejection at fresh monthly highs versus its major rivals and rebounds lower. The US dollar was broadly sold-off this session mainly on profit-taking after the latest US data-led strength.
On Tuesday, EUR/USD fell to fresh monthly lows at 1.0862 after a run of US macro release came out stronger than market expectations as traders saw what could be the beginning of the long-anticipated rebound in US growth momentum.
Meanwhile, EUR/USD remains pressured amid a data-light European calendar with markets now focussing on German GFK consumer climate data for fresh cues.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0928 (April 27 High) levels, above which gains could be extended to 1.0984 (May 26 High) levels. On the flip side, support is seen at 1.0862 (May 26 Low) below which it could extend losses to 1.0818 (April 27 High) levels.