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31 Mar 2015
EUR/USD recovers from session lows
FXStreet (Mumbai) - The EUR/USD pair has recovered from the low of 1.0711 to trade around 1.0770 levels ahead of the US session.
EUR/USD: back above key Fib level
The pair is back above 1.0755, which is the 50% Fib retracement of the move from 1.0461-1.1050. The recovery could have been triggered by fresh signs of weakness in the US Treasury yields. Meanwhile, the deadlock between Greece and its international creditors is likely to keep the EUR under pressure.
The pair could also be influenced by the US consumer confidence and Chicago PMI data due for release later today. Fed’s Lacker once again came out in support of a rate hike in June. However, his comments were ignored by the markets.
EUR/USD Technical Levels
The immediate support is seen at 1.0755, under which losses could be extended to 1.0711 levels. On the flip side, a rise above 1.08 could see the pair re-test 1.0844 levels.
EUR/USD: back above key Fib level
The pair is back above 1.0755, which is the 50% Fib retracement of the move from 1.0461-1.1050. The recovery could have been triggered by fresh signs of weakness in the US Treasury yields. Meanwhile, the deadlock between Greece and its international creditors is likely to keep the EUR under pressure.
The pair could also be influenced by the US consumer confidence and Chicago PMI data due for release later today. Fed’s Lacker once again came out in support of a rate hike in June. However, his comments were ignored by the markets.
EUR/USD Technical Levels
The immediate support is seen at 1.0755, under which losses could be extended to 1.0711 levels. On the flip side, a rise above 1.08 could see the pair re-test 1.0844 levels.