Back
4 May 2015
EUR/USD drops to fresh lows near 1.1130
FXStreet (Mumbai) - EUR/USD accelerates losses and posts fresh session lows in the mid-European trading, as the shared remains extends declines versus the greenback as a fresh bid wave lifts the US dollar to fresh highs versus its major peers while mixed Euro zone PMI readings continue to weigh.
EUR/USD falls from 1.1150
The EUR/USD trades -0.60% lower at fresh session lows at 1.1132, inching closer to 1.11 barrier. EUR/USD dived deeper in red as the US dollar posed a solid recovery, resuming its upward moves from Friday supported by upbeat fundamentals from the US.
Moreover, the latest Euro zone PMI reports failed to impress the markets, sending EUR/USD to fresh lows. While markets completely shrugged off rising German shorter duration yields, with the 10-yr bund yield standing at 0.401%, up 10.47% on the day.
Meanwhile, traders may now focus on EZ Services PMI and German factory orders while a host of key US data due later this week may also keep markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1070 (April 30 Low).
EUR/USD falls from 1.1150
The EUR/USD trades -0.60% lower at fresh session lows at 1.1132, inching closer to 1.11 barrier. EUR/USD dived deeper in red as the US dollar posed a solid recovery, resuming its upward moves from Friday supported by upbeat fundamentals from the US.
Moreover, the latest Euro zone PMI reports failed to impress the markets, sending EUR/USD to fresh lows. While markets completely shrugged off rising German shorter duration yields, with the 10-yr bund yield standing at 0.401%, up 10.47% on the day.
Meanwhile, traders may now focus on EZ Services PMI and German factory orders while a host of key US data due later this week may also keep markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1100 below which it could extend losses to 1.1070 (April 30 Low).