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19 Mar 2015
EUR/USD continues to slide
FXStreet (Mumbai) - The USD is making a strong comeback, which has pushed the EUR/USD pair lower to a fresh session low of 1.0735 levels.
SNB could provide support to the Euro
The shared currency may find support if the Swiss National Bank (SNB) surprises markets by pushing the interest rate further into the negative territory. In such a case the buying in the EUR/CHF pair could support the EUR/USD pair. It is said that the SNB is unofficially targeting the range of 1.05-1.10 in EUR/CHF pair. Moreover, the EUR could also find support even if the SNB makes a slight hint to any such FX intervention.
Meanwhile, the markets could continue to buy the USD as it priced-in the possibility of a June rate hike. The European Central Bank (ECB) monthly bulletin is unlikely to have any major impact on the EUR/USD pair.
EUR/USD Technical Levels
The immediate support is seen at 1.0715, under which losses could be extended to 1.0645 (5-DMA). On the flip side, resistance is seen at 1.0821 and 1.0850 levels.
SNB could provide support to the Euro
The shared currency may find support if the Swiss National Bank (SNB) surprises markets by pushing the interest rate further into the negative territory. In such a case the buying in the EUR/CHF pair could support the EUR/USD pair. It is said that the SNB is unofficially targeting the range of 1.05-1.10 in EUR/CHF pair. Moreover, the EUR could also find support even if the SNB makes a slight hint to any such FX intervention.
Meanwhile, the markets could continue to buy the USD as it priced-in the possibility of a June rate hike. The European Central Bank (ECB) monthly bulletin is unlikely to have any major impact on the EUR/USD pair.
EUR/USD Technical Levels
The immediate support is seen at 1.0715, under which losses could be extended to 1.0645 (5-DMA). On the flip side, resistance is seen at 1.0821 and 1.0850 levels.