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20 Apr 2015
EUR/USD slips to fresh lows below 1.0760
FXStreet (Mumbai) - The shared currency remains undermined against the US dollar in the European session, with EUR/USD failing every attempt to surpass 1.08 barrier, as Greece debt woes ahead of Friday’s Euro group meeting keeps the shared currency on the losing end.
EUR/USD drops from 1.0780
The EUR/USD trades lower by -0.48% at fresh session lows of 1.0754. EUR/USD fell further in to losses as the US dollar regained lost ground and edged higher against its major competitors. The DXY climbed to fresh session highs at 97.80, recording a 0.17% gain on the day.
The EUR/USD pair accelerates losses below 1.0780 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 on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0735 (April 17 Low) below which it could extend losses to 1.0700 levels.
EUR/USD drops from 1.0780
The EUR/USD trades lower by -0.48% at fresh session lows of 1.0754. EUR/USD fell further in to losses as the US dollar regained lost ground and edged higher against its major competitors. The DXY climbed to fresh session highs at 97.80, recording a 0.17% gain on the day.
The EUR/USD pair accelerates losses below 1.0780 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 on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0735 (April 17 Low) below which it could extend losses to 1.0700 levels.