24 Aug 2015
EUR/USD gathering pace to surpass 1.1500
FXStreet (Mumbai) - The strength in the EUR/USD pair appears to lose steam on every attempt to breach 1.1500, with the major now keeping range in the upper band of 1.14 handle.
EUR/USD: 1.1500 back in focus
The EUR/USD pair trades 0.97% higher at 1.1493, bidding up to 1.1500 levels. The major is seen building on to gains, finding fresh bids nears 1.1450 levels, and now is poised to surpass 1.1500 on yet another run towards 1.15 barrier.
The EUR/USD pair continues to find fresh buyers at lower levels as risk-on sentiments continue to dominate in an otherwise calmer European session. Further falling oil prices have also increased the risk-off flows big time boosting the safe-haven sentiment around the euro.
Also, stronger EUR cross amid falling Antipodean currencies on Chian wears while GPB remains steady unable to benefit from broad based USD sell-off, also adds to the strength in the EUR/USD pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1501 (Today’s High), above which gains could be extended to 1.1535 (Feb High) levels. On the flip side, support is seen at 1.1370 (Today’s Low) below which it could extend losses to 1.1329 (June 18 High).
EUR/USD: 1.1500 back in focus
The EUR/USD pair trades 0.97% higher at 1.1493, bidding up to 1.1500 levels. The major is seen building on to gains, finding fresh bids nears 1.1450 levels, and now is poised to surpass 1.1500 on yet another run towards 1.15 barrier.
The EUR/USD pair continues to find fresh buyers at lower levels as risk-on sentiments continue to dominate in an otherwise calmer European session. Further falling oil prices have also increased the risk-off flows big time boosting the safe-haven sentiment around the euro.
Also, stronger EUR cross amid falling Antipodean currencies on Chian wears while GPB remains steady unable to benefit from broad based USD sell-off, also adds to the strength in the EUR/USD pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1501 (Today’s High), above which gains could be extended to 1.1535 (Feb High) levels. On the flip side, support is seen at 1.1370 (Today’s Low) below which it could extend losses to 1.1329 (June 18 High).