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28 Aug 2015
EUR/USD: Bulls give up 1.13 handle, oscillates around 1.1280
FXStreet (Mumbai) - The EUR/USD pair failed to sustain hefty gains and trimmed a part of it, dragging the pair back below 1.13 handle, as traders now look forward to the German CPI figures for further momentum on the major.
EUR/USD rejected at 1.1310
The EUR/USD pair trades 0.31% higher at 1.1280, easing off session highs recorded at 1.1310 levels in last hours. The pair remains volatile with the markets now resorting to profit-taking after the brief spike above 1.13 barrier, thereby pushing EUR/USD back to familiar range near 1.1270-1.1280 levels.
Whilst, the US dollar is also seen recouping a part of its slide against its major peers as traders also await fresh incentives from the US PCE price index which may further add to the recent greenback strength.
Looking ahead, markets now shift attention towards German CPI figures ahead of the crucial US PCE index due later today, which may have major impact on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1310 (Today’s High), above which gains could be extended to 1.1361 (Aug 24 Low), levels. On the flip side, support is seen at 1.1232 (Today’s Low) below which it could extend losses to 1.1202 (Aug 27 Low) levels.
EUR/USD rejected at 1.1310
The EUR/USD pair trades 0.31% higher at 1.1280, easing off session highs recorded at 1.1310 levels in last hours. The pair remains volatile with the markets now resorting to profit-taking after the brief spike above 1.13 barrier, thereby pushing EUR/USD back to familiar range near 1.1270-1.1280 levels.
Whilst, the US dollar is also seen recouping a part of its slide against its major peers as traders also await fresh incentives from the US PCE price index which may further add to the recent greenback strength.
Looking ahead, markets now shift attention towards German CPI figures ahead of the crucial US PCE index due later today, which may have major impact on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1310 (Today’s High), above which gains could be extended to 1.1361 (Aug 24 Low), levels. On the flip side, support is seen at 1.1232 (Today’s Low) below which it could extend losses to 1.1202 (Aug 27 Low) levels.