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22 Apr 2015
EUR/USD: Weak German bond yields caps gains
FXStreet (Mumbai) - The shared currency is feeling the heat of fresh signs of weakness in German bond yields, pushing the EUR/USD pair lower to 1.0750 from the session high of 1.0773.
Gains capped at 5-DMA
The pair failed to sustain above 5-DMA located at 1.0769 levels, as the 10-year German Bund yield fell one basis points to 0.093%. The losses are seen across the yield curve – short duration and long duration bonds. The uptick in the Italian industrial orders failed to have any significant impact on the pair.
In the meantime, the Greece issue could continue to influence the pair amid an absence of a major market moving data release in the Eurozone.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0769 (5-DMA), above which gains could be extended to 1.08 levels. On the flip side, a break below 1.0711, under which the pair could extend losses to 1.0658.
Gains capped at 5-DMA
The pair failed to sustain above 5-DMA located at 1.0769 levels, as the 10-year German Bund yield fell one basis points to 0.093%. The losses are seen across the yield curve – short duration and long duration bonds. The uptick in the Italian industrial orders failed to have any significant impact on the pair.
In the meantime, the Greece issue could continue to influence the pair amid an absence of a major market moving data release in the Eurozone.
EUR/USD Technical Levels
The immediate resistance is seen at 1.0769 (5-DMA), above which gains could be extended to 1.08 levels. On the flip side, a break below 1.0711, under which the pair could extend losses to 1.0658.