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19 Mar 2015
EUR/USD back on 1.06 handle
FXStreet (Mumbai) - EUR/USD extends its consolidation on the downside in the mid-European session, and heads closer towards 2003 levels seen last week, as the US dollar recovered FOMC induced heavy losses across the board, resetting eye on 100 mark.
EUR/USD remains below 1.0700
The EUR/USD now trades at 1.0668 levels, recording a loss of -1.84% on the day, having previously posted day’s high at 1.0918 and day’s low at 1.0633. EUR/USD continues its freefall, correcting heavy gains from the previous session, after the euro jumped nearly 500 pips on the dovish FOMC statement.
In the day ahead, EUR/USD is likely to take fresh cues from the ECB TLTRO announcement and US macro data while the US dollar regains lost ground.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0780 levels. On the flip side, support is seen at 1.0650 levels, below which it could extend losses to 1.0579 (March 18 Low) levels.
EUR/USD remains below 1.0700
The EUR/USD now trades at 1.0668 levels, recording a loss of -1.84% on the day, having previously posted day’s high at 1.0918 and day’s low at 1.0633. EUR/USD continues its freefall, correcting heavy gains from the previous session, after the euro jumped nearly 500 pips on the dovish FOMC statement.
In the day ahead, EUR/USD is likely to take fresh cues from the ECB TLTRO announcement and US macro data while the US dollar regains lost ground.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0780 levels. On the flip side, support is seen at 1.0650 levels, below which it could extend losses to 1.0579 (March 18 Low) levels.