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10 Sep 2015
EUR/USD capped below 1.1200 on cross driven weakness
FXStreet (Mumbai) - EUR/USD trimmed losses, although remains below 1.12 handle this afternoon as a fresh bout of selling in EUR/GBP cross post BOE decision restricts the upside in the euro.
EUR/USD recovers from 1.1172 lows
The EUR/USD pair trades -0.17% lower at 1.1187, unable to extend beyond 1.12 barrier. The bid tone around the EUR/USD pair remains intact as the pair remains largely supressed by the weakness in the EUR/GBP cross, after the pound strengthened on BOE rate decision and its minutes.
Markets now shift back focus towards the US weekly jobless claims due to be reported later in the US session for fresh cues on the pair. While the sentiment on the Wall Street will also be closely monitored for further momentum.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1245 (Today’s High), above which gains could be extended to 1.1264 (Aug 31 High) levels. On the flip side, support is seen at 1.1151 (Sept 8 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.
EUR/USD recovers from 1.1172 lows
The EUR/USD pair trades -0.17% lower at 1.1187, unable to extend beyond 1.12 barrier. The bid tone around the EUR/USD pair remains intact as the pair remains largely supressed by the weakness in the EUR/GBP cross, after the pound strengthened on BOE rate decision and its minutes.
Markets now shift back focus towards the US weekly jobless claims due to be reported later in the US session for fresh cues on the pair. While the sentiment on the Wall Street will also be closely monitored for further momentum.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1245 (Today’s High), above which gains could be extended to 1.1264 (Aug 31 High) levels. On the flip side, support is seen at 1.1151 (Sept 8 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.