7 May 2015
EUR/USD bounces off 1.1230
FXStreet (Edinburgh) - The shared currency is now looking to regain the 1.1280 area vs. the greenback on Thursday, with EUR/USD coming up from session lows in the 1.1235/30 band.
EUR/USD rejected from 1.1400
The pair’s upside run out of steam in the vicinity of 1.1400 the figure during the European afternoon, triggering a sharp pull back to the 1.1230/35 area, where buyers seems to have stepped in. Positive results from the weekly report on the US labour market gave the greenback further oxygen and accentuated the decline.
In addition, uncertainty is growing bigger regarding the debt talks between Greece and its EU creditors, with a deal practically off the table at the next Eurogroup meeting on Monday.
EUR/USD levels to watch
The pair is now losing 0.58% at 1.1281 and a breach of 1.1237 (low May 7) would aim for 1.1200 (psychological level) and then 1.1175 (low May 6). On the other hand, the initial hurdle aligns at 1.1393 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6).
EUR/USD rejected from 1.1400
The pair’s upside run out of steam in the vicinity of 1.1400 the figure during the European afternoon, triggering a sharp pull back to the 1.1230/35 area, where buyers seems to have stepped in. Positive results from the weekly report on the US labour market gave the greenback further oxygen and accentuated the decline.
In addition, uncertainty is growing bigger regarding the debt talks between Greece and its EU creditors, with a deal practically off the table at the next Eurogroup meeting on Monday.
EUR/USD levels to watch
The pair is now losing 0.58% at 1.1281 and a breach of 1.1237 (low May 7) would aim for 1.1200 (psychological level) and then 1.1175 (low May 6). On the other hand, the initial hurdle aligns at 1.1393 (high May 7) followed by 1.1450 (high Feb.17) and finally 1.1486 (high Feb.6).