From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
21 Apr 2015
EUR/USD accelerates losses below 1.07
FXStreet (Mumbai) - The shared currency remains heavy against the US dollar in the European session, knocking-off EUR/USD to fresh session lows back on 1.06 handle, mainly as the US dollar jumped to highs against its major peers while the euro remains under pressure on lingering Greece debt concerns. While traders now await German ZEW business survey for fresh cues.
EUR/USD loses 1.07 handle
The EUR/USD trades lower by -0.56% at fresh three day lows at 1.0675, dropping from 1.0748 highs. EUR/USD dived deeper in red as the US dollar witnessed a solid pick-up in buying interest against its major competitors heading in to the European session. The DXY climbed to fresh three-day highs at 98.61, recording a 0.40% gain on the day.
The EUR/USD pair accelerates losses and eyes 1.06 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, markets now shift their focus to the upcoming ZEW economic sentiments in absence of significant economic releases in the day ahead. The German ZEW indicator fell short last month, but a slight improvement is expected in April from 54.8 to 55.6.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0748 (Today’s High) levels, above which gains could be extended to 1.0800 levels. On the flip side, support is seen at 1.0623 (April 16 Low) below which it could extend losses to 1.0570 (April 15 Low) levels.
EUR/USD loses 1.07 handle
The EUR/USD trades lower by -0.56% at fresh three day lows at 1.0675, dropping from 1.0748 highs. EUR/USD dived deeper in red as the US dollar witnessed a solid pick-up in buying interest against its major competitors heading in to the European session. The DXY climbed to fresh three-day highs at 98.61, recording a 0.40% gain on the day.
The EUR/USD pair accelerates losses and eyes 1.06 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, markets now shift their focus to the upcoming ZEW economic sentiments in absence of significant economic releases in the day ahead. The German ZEW indicator fell short last month, but a slight improvement is expected in April from 54.8 to 55.6.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0748 (Today’s High) levels, above which gains could be extended to 1.0800 levels. On the flip side, support is seen at 1.0623 (April 16 Low) below which it could extend losses to 1.0570 (April 15 Low) levels.