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9 Sep 2015
EUR/USD tests 1.1150 as European indices futures rocket
FXStreet (Mumbai) - The EUR/USD pair keeps falling as we progress towards the European opening hours, on the back of sharp acceleration seen in the greenback amid renewed wave of risk-on trades.
EUR/USD drops further from 1.1170
The EUR/USD drops -0.44% to fresh session lows at 1.1149, finally paving way for a test of 1.1100 levels. The main currency pair completely lost footing as markets favour the US dollar as risk-sentiment persists in full steam as witnessed by the rally Asian markets.
Moving ahead, tracking strong gains from the Asian indices, markets predict a flying start for the European stocks with the major European stock indices futures already rocketing.
Futures for Germany's DAX 30 index added 1.99% to 10,485.50, while futures for the UK's FTSE 100 index advanced 1.38% to 6,232.30.
Whilst there is nothing of relevance to be reported in the EUR calendar today, markets will closely tracking the sentiment around the European indices, which is expected to influence the funding currency in the euro.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1207 (Today’s High), above which gains could be extended to 1.1245 (Sept 3 High) levels. On the flip side, support is seen at 1.1120 (Sept 7 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.
EUR/USD drops further from 1.1170
The EUR/USD drops -0.44% to fresh session lows at 1.1149, finally paving way for a test of 1.1100 levels. The main currency pair completely lost footing as markets favour the US dollar as risk-sentiment persists in full steam as witnessed by the rally Asian markets.
Moving ahead, tracking strong gains from the Asian indices, markets predict a flying start for the European stocks with the major European stock indices futures already rocketing.
Futures for Germany's DAX 30 index added 1.99% to 10,485.50, while futures for the UK's FTSE 100 index advanced 1.38% to 6,232.30.
Whilst there is nothing of relevance to be reported in the EUR calendar today, markets will closely tracking the sentiment around the European indices, which is expected to influence the funding currency in the euro.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1207 (Today’s High), above which gains could be extended to 1.1245 (Sept 3 High) levels. On the flip side, support is seen at 1.1120 (Sept 7 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.