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20 Apr 2015
EUR/USD snaps 4-day rally, in red near 1.0780
FXStreet (Mumbai) - The shared currency started week on a negative note against the US dollar, with EUR/USD losing the 1.08 barrier in the late Asian session and trades near fresh session lows, as the USD bulls jumped back in to bids supported by recent upbeat US economic data.
EUR/USD drops from 1.0818
The EUR/USD trades lower by -0.29% at 1.0776, having posted fresh session lows of 1.0767 levels some minutes ago. The shared currency gave back previous gains and slipped in red as a fresh demand for the US dollar was witnessed which triggered a fresh sell-off in EUR/USD. The DXY spiked to fresh session highs of 97.84, recording 0.17% gain on the day.
Meanwhile, markets now shift their focus on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead. Moreover, Greece concerns still remain in focus and may remain the major driver in the week ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0735 (April 17 Low) below which it could extend losses to 1.0700 levels.
EUR/USD drops from 1.0818
The EUR/USD trades lower by -0.29% at 1.0776, having posted fresh session lows of 1.0767 levels some minutes ago. The shared currency gave back previous gains and slipped in red as a fresh demand for the US dollar was witnessed which triggered a fresh sell-off in EUR/USD. The DXY spiked to fresh session highs of 97.84, recording 0.17% gain on the day.
Meanwhile, markets now shift their focus on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead. Moreover, Greece concerns still remain in focus and may remain the major driver in the week ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0735 (April 17 Low) below which it could extend losses to 1.0700 levels.