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21 Apr 2015
EUR/USD recovers to 1.0690
FXStreet (Mumbai) - The shared currency remains heavily sold-off US dollar in the European session, although taking EUR/USD away from session lows, largely undermined by the lingering Greece debt concerns as the broad USD strength also drags the major lower.
EUR/USD remains below 1.07 handle
The EUR/USD trades lower by -0.45% at 1.0690, recovering from fresh three day lows posted at 1.0661. EUR/USD recovers partial losses as the US dollar stalls its upsurge across the board with the DXY retreating to 98.46 from fresh three-day highs at 98.68, recording a 0.31% gain on the day.
The EUR/USD pair remains pressured and eyes 1.06 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, traders now turn their focus towards a raft of PMI reading across the Euro area to be reported tomorrow in absence of any major data for the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0748 (Today’s High) levels, above which gains could be extended to 1.0800 levels. On the flip side, support is seen at 1.0623 (April 16 Low) below which it could extend losses to 1.0570 (April 15 Low) levels.
EUR/USD remains below 1.07 handle
The EUR/USD trades lower by -0.45% at 1.0690, recovering from fresh three day lows posted at 1.0661. EUR/USD recovers partial losses as the US dollar stalls its upsurge across the board with the DXY retreating to 98.46 from fresh three-day highs at 98.68, recording a 0.31% gain on the day.
The EUR/USD pair remains pressured and eyes 1.06 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, traders now turn their focus towards a raft of PMI reading across the Euro area to be reported tomorrow in absence of any major data for the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0748 (Today’s High) levels, above which gains could be extended to 1.0800 levels. On the flip side, support is seen at 1.0623 (April 16 Low) below which it could extend losses to 1.0570 (April 15 Low) levels.