9 Mar 2015
EUR/USD jumps above 1.09 as ECB QE officially kicked-off
FXStreet (Mumbai) - EUR/USD extended gains and broke above 1.09 threshold during the European, after ECB and the national central banks officially announced commencement of QE purchases.
Euro group meetings in focus
The EUR/USD now trades higher by 0.48% at 1.0895 levels, quickly retreating from fresh session highs posted at 1.0906. EUR/USD rallied to fresh highs above 1.0900 levels as the announcement of QE purchases commencement pushed the shared currency higher.
Moreover, a broadly weaker US dollar on a round of profit-taking after US data backed rally on Friday also supports the upside in EUR/USD.
Meanwhile, traders now eye the renegotiations over Greece debt repayments today between the Greek government and EU finance ministers for further direction on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0910 levels, above which gains could be extended to 1.0950 levels. On the flip side, support is seen at 1.0836 levels, below which it could extend losses to 1.0800 levels.
Euro group meetings in focus
The EUR/USD now trades higher by 0.48% at 1.0895 levels, quickly retreating from fresh session highs posted at 1.0906. EUR/USD rallied to fresh highs above 1.0900 levels as the announcement of QE purchases commencement pushed the shared currency higher.
Moreover, a broadly weaker US dollar on a round of profit-taking after US data backed rally on Friday also supports the upside in EUR/USD.
Meanwhile, traders now eye the renegotiations over Greece debt repayments today between the Greek government and EU finance ministers for further direction on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0910 levels, above which gains could be extended to 1.0950 levels. On the flip side, support is seen at 1.0836 levels, below which it could extend losses to 1.0800 levels.