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13 Mar 2015
EUR/USD slips below 1.06
FXStreet (Mumbai) - EUR/USD accelerates losses during the European session, having retreated from session highs, as the shared currency fails to hold firm ground against the US dollar after Greece concerns return to the spotlight.
EUR/USD deflates from 1.0635
The EUR/USD now trades at 1.0608 levels, recording a loss of -0.27% on the day, bouncing-off day’s high at 1.0635 levels. EUR/USD failed to sustain at higher levels and inched closer to 1.06 barrier as divergence in monetary policy outlook between the US and the Europe ahead of Fed meeting next week, continues to boost the greenback, dragging the major lower.
Moreover, EUR/USD comes under further pressure as traders remain cautious amid ongoing meeting between Greece's Prime Minister Alexis Tsipras, European Parliament President Martin Schulz and European Commission President Jean-Claude Juncker to decide Greece’s future.
Meanwhile, traders now await US macro data in light of a quiet euro economic calendar for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0635 (Today’s High) levels, above which gains could be extended to 1.0683 (March 12 High) levels. On the flip side, support is seen at 1.0550 levels, below which it could extend losses to 1.0494 (March 12 Low) levels.
EUR/USD deflates from 1.0635
The EUR/USD now trades at 1.0608 levels, recording a loss of -0.27% on the day, bouncing-off day’s high at 1.0635 levels. EUR/USD failed to sustain at higher levels and inched closer to 1.06 barrier as divergence in monetary policy outlook between the US and the Europe ahead of Fed meeting next week, continues to boost the greenback, dragging the major lower.
Moreover, EUR/USD comes under further pressure as traders remain cautious amid ongoing meeting between Greece's Prime Minister Alexis Tsipras, European Parliament President Martin Schulz and European Commission President Jean-Claude Juncker to decide Greece’s future.
Meanwhile, traders now await US macro data in light of a quiet euro economic calendar for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0635 (Today’s High) levels, above which gains could be extended to 1.0683 (March 12 High) levels. On the flip side, support is seen at 1.0550 levels, below which it could extend losses to 1.0494 (March 12 Low) levels.