19 Jun 2015
EUR/USD hits session low of 1.1291
FXStreet (Mumbai) - The EUR/USD pair finally breached 1.13 levels to print a low of 1.1291 before recovering back to 1.13.
USD strengthens on safe haven bids
The US dollar continues to strengthen on an increase in demand for safe haven treasuries amid Greek issue. This is the reason why the shared currency weakened despite of a larger fall in the US Treasury yields. The US-German yield spread which stands at 153 basis points, largely unchanged on the day has does not have an impact on the EUR/USD pair, since the fall in Treasury yields is mainly on account of safe haven bids.
Ahead in the day, the empty US calendar leaves the pair at the mercy of the market’s appetite for the US dollars.
EUR/USD Technical Levels
The immediate support is seen at 1.1293 (23.6% Fib R of 1.3991-1.0461), under which the pair could target 1.1228. On the flip side, a break above 1.1343 (hourly 50-MA) could see the pair re-test 1.14.
USD strengthens on safe haven bids
The US dollar continues to strengthen on an increase in demand for safe haven treasuries amid Greek issue. This is the reason why the shared currency weakened despite of a larger fall in the US Treasury yields. The US-German yield spread which stands at 153 basis points, largely unchanged on the day has does not have an impact on the EUR/USD pair, since the fall in Treasury yields is mainly on account of safe haven bids.
Ahead in the day, the empty US calendar leaves the pair at the mercy of the market’s appetite for the US dollars.
EUR/USD Technical Levels
The immediate support is seen at 1.1293 (23.6% Fib R of 1.3991-1.0461), under which the pair could target 1.1228. On the flip side, a break above 1.1343 (hourly 50-MA) could see the pair re-test 1.14.