20 Jul 2015
EUR/USD: Bulls back in the game, prints high of 1.0847
FXStreet (Mumbai) - The common currency is finding some love in the early European session, taking the EUR/USD pair to a session high of 1.0847.
Hovers around 61.8% Fib
The spot currently trades around 1.0845, which is the 61.8% fib retracement of the rally witnessed from March to May. The pair printed a low of 1.0819 earlier today after Gold price shocked markets by dipping to a low of USD 1172/Oz; its lowest since March 2010. However, the partial recovery in the metal has led to a broad based weakness in the USD.
The Euroland offers no major economic data releases; so the spot is at the mercy of the overall market sentiment and Greek debt negotiation talks. The Eurozone PPI figure released today failed to have any impact in the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0886 (June 1 low), followed by another hurdle at the psychological level of 1.11. On the flip side, a break below 1.0818 (May 27 low) and 1.0784.
Hovers around 61.8% Fib
The spot currently trades around 1.0845, which is the 61.8% fib retracement of the rally witnessed from March to May. The pair printed a low of 1.0819 earlier today after Gold price shocked markets by dipping to a low of USD 1172/Oz; its lowest since March 2010. However, the partial recovery in the metal has led to a broad based weakness in the USD.
The Euroland offers no major economic data releases; so the spot is at the mercy of the overall market sentiment and Greek debt negotiation talks. The Eurozone PPI figure released today failed to have any impact in the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0886 (June 1 low), followed by another hurdle at the psychological level of 1.11. On the flip side, a break below 1.0818 (May 27 low) and 1.0784.