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14 May 2015
EUR/USD consolidates circa 1.1360
FXStreet (Mumbai) - The shared currency remains boosted versus the US dollar in the early European trades, keeping EUR/USD in highs within reach of 1.14 handle. The main currency pair remains supported largely on shrinking bonds’ spread while broad US dollar weakness backed by worse-than expected US retail trade data also keeps the major underpinned.
EUR/USD eyes on 1.14
The EUR/USD trades 0.07% higher at 1.1363, retreating from 1.1375 highs. EUR/USD extends its bullish momentum and sits near weekly highs, consolidating previous gains after stagnant retail sales from the US exacerbated the US dollar sell-off, driving the shared currency towards 1.1390 resistance.
Moreover, the recently narrowing spreads between the US Treasury Yields and German bunds yields also lends support to EUR/USD.
Meanwhile, the major is likely to remain lifted amid extended broad USD weakness amid a data-dry European session as most European markets are closed on account of a national holiday.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1393 (May 7 High) levels, above which gains could be extended to 1.1430 (Feb 20 High) levels. On the flip side, support is seen at 1.1340 (Today’s Low) below which it could extend losses to 1.1300 levels.
EUR/USD eyes on 1.14
The EUR/USD trades 0.07% higher at 1.1363, retreating from 1.1375 highs. EUR/USD extends its bullish momentum and sits near weekly highs, consolidating previous gains after stagnant retail sales from the US exacerbated the US dollar sell-off, driving the shared currency towards 1.1390 resistance.
Moreover, the recently narrowing spreads between the US Treasury Yields and German bunds yields also lends support to EUR/USD.
Meanwhile, the major is likely to remain lifted amid extended broad USD weakness amid a data-dry European session as most European markets are closed on account of a national holiday.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1393 (May 7 High) levels, above which gains could be extended to 1.1430 (Feb 20 High) levels. On the flip side, support is seen at 1.1340 (Today’s Low) below which it could extend losses to 1.1300 levels.