27 Jan 2015
EURUSD makes another run at 1.13
FXStreet (Mumbai) - The EUR/USD pair made another attempt at 1.13 levels, although the momentum faded away around 1.1290 levels amid lack of fresh fundamental triggers.
The pair currently trades at 1.1278, after having hit a high of 1.1291 levels. The single currency is witnessing a relief rally as the Greece concerns subside. Moreover, the pair is extending a “sell the rumor, buy the fact” rally that begun on Monday after the leftist Syriza party won the elections in Greece.
However, the pair once again failed at 1.1291 levels, after having clocked a high of 1.13 levels yesterday. A fresh technical buying may set-in once the pair breaks above 1.13 levels. No major Eurozone data is due for release today. Hence, technical factors are likely to dominate the trading activity today.
EUR/USD Technical Levels
The immediate resistance is seen at 1.13, above which the pair could test 1.135 levels. On the flip side, a break below 1.1255 shall see the pair re-test the daily low of 1.1224 levels.
The pair currently trades at 1.1278, after having hit a high of 1.1291 levels. The single currency is witnessing a relief rally as the Greece concerns subside. Moreover, the pair is extending a “sell the rumor, buy the fact” rally that begun on Monday after the leftist Syriza party won the elections in Greece.
However, the pair once again failed at 1.1291 levels, after having clocked a high of 1.13 levels yesterday. A fresh technical buying may set-in once the pair breaks above 1.13 levels. No major Eurozone data is due for release today. Hence, technical factors are likely to dominate the trading activity today.
EUR/USD Technical Levels
The immediate resistance is seen at 1.13, above which the pair could test 1.135 levels. On the flip side, a break below 1.1255 shall see the pair re-test the daily low of 1.1224 levels.