6 Apr 2015
EUR/USD turns positive, sets session high at 1.10 levels
FXStreet (Mumbai) - The shared currency caught a fresh bid wave ahead of the US session, taking the EUR/USD pair higher to 1.10 levels. The pair recovered from the low of 1.0965 in a quiet European session.
EUR/USD: New York close above 1.10?
The pair has repeatedly faced rejection near 1.10 levels since last month’s Fed meet. On a couple of occasions, we also saw the pair clock a high above 1.10, but failed to sustain above the same till New York closing.
Whether the pair manages to rise above 1.10 and sustain above the same depends on the actual US ISM manufacturing print for March due for release later today. A better-than-expected report may see another failure to rise above 1.10. On the other hand, a weaker-than-expected figure could further weaken the treasury yields and push the pair above 1.10.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0997. The immediate resistance is seen at 1.1022 (50-DMA), above which gains could be extended to 1.1050 (March 26 high). On the flip side, a break below the daily low at 1.0965 could drive the prices lower to 1.0919.
EUR/USD: New York close above 1.10?
The pair has repeatedly faced rejection near 1.10 levels since last month’s Fed meet. On a couple of occasions, we also saw the pair clock a high above 1.10, but failed to sustain above the same till New York closing.
Whether the pair manages to rise above 1.10 and sustain above the same depends on the actual US ISM manufacturing print for March due for release later today. A better-than-expected report may see another failure to rise above 1.10. On the other hand, a weaker-than-expected figure could further weaken the treasury yields and push the pair above 1.10.
EUR/USD Technical Levels
At the moment, the pair is trading at 1.0997. The immediate resistance is seen at 1.1022 (50-DMA), above which gains could be extended to 1.1050 (March 26 high). On the flip side, a break below the daily low at 1.0965 could drive the prices lower to 1.0919.