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14 May 2015
EUR/USD supported at 1.1400
FXStreet (Mumbai) - The shared currency wavers above 1.14 handle, easing off fresh three month highs versus the US dollar in a lack lustre European session, keeping EUR/USD heavily bid. The main currency pair remains supported largely tracking gains from German bund yields amid thin volumes on account of Ascension Day holiday in Europe.
EUR/USD deflates from 1.1435
The EUR/USD trades 0.56% higher at 1.1415, retreating from 1.1435 fresh three month highs. EUR/USD continues to ride higher, finally surpassing 1.14 barrier earlier this session, mainly driven by higher German 10-yr yields which stands at 0.727, up nearly 1% on the day.
Moreover, persistent broad US dollar weakness following stagnant retail sales from the US continues keep the greenback undermined, driving EUR/USD to fresh multi-month highs. Also, the recently narrowing spreads between the US Treasury Yields and German bunds yields also lends support to EUR/USD.
Meanwhile, markets now eye US data releases later today for fresh cues on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Feb 19 High) levels, above which gains could be extended to 1.1500 (Feb 5 High) levels. On the flip side, support is seen at 1.1341 (Today’s Low) below which it could extend losses to 1.1300 levels.
EUR/USD deflates from 1.1435
The EUR/USD trades 0.56% higher at 1.1415, retreating from 1.1435 fresh three month highs. EUR/USD continues to ride higher, finally surpassing 1.14 barrier earlier this session, mainly driven by higher German 10-yr yields which stands at 0.727, up nearly 1% on the day.
Moreover, persistent broad US dollar weakness following stagnant retail sales from the US continues keep the greenback undermined, driving EUR/USD to fresh multi-month highs. Also, the recently narrowing spreads between the US Treasury Yields and German bunds yields also lends support to EUR/USD.
Meanwhile, markets now eye US data releases later today for fresh cues on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1450 (Feb 19 High) levels, above which gains could be extended to 1.1500 (Feb 5 High) levels. On the flip side, support is seen at 1.1341 (Today’s Low) below which it could extend losses to 1.1300 levels.