30 Apr 2015
EUR/USD retraces to 1.12 ahead of EMU data
FXStreet (Mumbai) - The shared currency soared nearly 180 pips versus its US counterpart in the European morning, sending EUR/USD to fresh two month highs, mainly driven by sky-rocketing German bund yields while USD sell-off also supports.
EUR/USD hits fresh highs at 1.1249
The EUR/USD trades higher by 0.67% at 1.1202 levels, retreating from 2-month highs reached at 1.0249 in last hours. EUR/USD extended gains this session largely back by soaring German 10-year bond yields which now trades at 0.323%, recording a 14% gain on the day.
The euro jumped to fresh multi-months highs also after the US dollar resumed its pre-FOMC losing streak as the neutral FOMC failed to lift the greenback from its poor macro data led trough.
Meanwhile, traders may now focus on EZ CPI data due later shortly while US macro releases may also be closely watched by the markets for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1249 (Today’ High) levels, above which gains could be extended to 1.13 levels. On the flip side, support is seen at 1.1160 (March 1 Low) below which it could extend losses to 1.1100 levels.
EUR/USD hits fresh highs at 1.1249
The EUR/USD trades higher by 0.67% at 1.1202 levels, retreating from 2-month highs reached at 1.0249 in last hours. EUR/USD extended gains this session largely back by soaring German 10-year bond yields which now trades at 0.323%, recording a 14% gain on the day.
The euro jumped to fresh multi-months highs also after the US dollar resumed its pre-FOMC losing streak as the neutral FOMC failed to lift the greenback from its poor macro data led trough.
Meanwhile, traders may now focus on EZ CPI data due later shortly while US macro releases may also be closely watched by the markets for further momentum on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1249 (Today’ High) levels, above which gains could be extended to 1.13 levels. On the flip side, support is seen at 1.1160 (March 1 Low) below which it could extend losses to 1.1100 levels.