20 Feb 2015
EUR/USD unperturbed by German PMIs, Euro group in Focus
FXStreet (Mumbai) - EUR/USD keeps losses after downbeat German manufacturing output numbers as markets shift their attention towards the crucial Euro group meeting with Greece's debt deal in focus.
EUR/USD little changed post German data
The EUR/USD now trades lower by -0.27% at 1.1337, quickly recovered from fresh session lows at 1.1319 levels reached prior to data release. EUR/USD remained subdued digesting the latest flash PMI survey data from Germany and France which came in lower than market expectations.
Meanwhile, the shared currency remains pressured versus the US dollar in anticipation of an outcome on Greece debt at the Euro group meeting. Failure to reach an agreement will likely see the euro come under increased selling pressure.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1374 (5-DMA) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1278 (Feb 11 Low) levels.
EUR/USD little changed post German data
The EUR/USD now trades lower by -0.27% at 1.1337, quickly recovered from fresh session lows at 1.1319 levels reached prior to data release. EUR/USD remained subdued digesting the latest flash PMI survey data from Germany and France which came in lower than market expectations.
Meanwhile, the shared currency remains pressured versus the US dollar in anticipation of an outcome on Greece debt at the Euro group meeting. Failure to reach an agreement will likely see the euro come under increased selling pressure.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1374 (5-DMA) levels, above which gains could be extended to 1.1400 levels. On the flip side, support is seen at 1.1300 levels, below which it could extend losses to 1.1278 (Feb 11 Low) levels.