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11 Dec 2014
EUR/USD back in the red
FXStreet (Mumbai) - The single currency is trading weak against the greenback after having failed to sustain the bounce witnessed post German CPI data.
The pair is down to 1.2442 levels after falling-off from the European session’s high of 1.2475. Moreover, the weakness may have been triggered due to the sell-off in EUR/CHF cross after the Swiss National Bank (SNB) refrained from announcing negative interest rates.
The single currency is also expected to remain under pressure since the European Central Bank’s (ECB) second round of TLTRO is unlikely to result in a significant expansion of the ECB’s balance sheet. A weak expansion today is likely to invite a more aggressive measures in the days ahead.
EUR/USD Technical Levels
The pair has an immediate support located on the hourly charts at 1.2433, under which losses could be extended to next major support at 1.2362. Meanwhile, the resistance is seen at 1.2475 and 1.2495 levels.
The pair is down to 1.2442 levels after falling-off from the European session’s high of 1.2475. Moreover, the weakness may have been triggered due to the sell-off in EUR/CHF cross after the Swiss National Bank (SNB) refrained from announcing negative interest rates.
The single currency is also expected to remain under pressure since the European Central Bank’s (ECB) second round of TLTRO is unlikely to result in a significant expansion of the ECB’s balance sheet. A weak expansion today is likely to invite a more aggressive measures in the days ahead.
EUR/USD Technical Levels
The pair has an immediate support located on the hourly charts at 1.2433, under which losses could be extended to next major support at 1.2362. Meanwhile, the resistance is seen at 1.2475 and 1.2495 levels.