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15 May 2015
EUR/USD bounces off 1.1340
FXStreet (Edinburgh) - After reaching daily lows near 1.1340, EUR/USD is now attempting a bounce higher to the 1.1365/70 area.
EUR/USD softer on Bund buying
The sharp sell off seen around the German Bunds in recent weeks seems to be fading so far after some renewed buying interest have stepped in today, dragging yields lower and weighing on the euro.
Ahead in the session, US Industrial Production, Capacity Utilization and the Reuters/Michigan index are all due later with consensus pointing to a generalized improvement in these indicators.
EUR/USD levels to consider
At the moment the pair is losing 0.39% at 1.1365 and a break below 1.1346 (low May 15) would open the door to 1.1341 (low May 14) and then 1.1268 (10-d MA). On the flip side, the initial hurdle aligns at 1.1445 (high May 14) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5).
EUR/USD softer on Bund buying
The sharp sell off seen around the German Bunds in recent weeks seems to be fading so far after some renewed buying interest have stepped in today, dragging yields lower and weighing on the euro.
Ahead in the session, US Industrial Production, Capacity Utilization and the Reuters/Michigan index are all due later with consensus pointing to a generalized improvement in these indicators.
EUR/USD levels to consider
At the moment the pair is losing 0.39% at 1.1365 and a break below 1.1346 (low May 15) would open the door to 1.1341 (low May 14) and then 1.1268 (10-d MA). On the flip side, the initial hurdle aligns at 1.1445 (high May 14) ahead of 1.1486 (high Feb.6) and then 1.1499 (high Feb.5).