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23 Jun 2015
EUR/USD off lows, near 1.1270
FXStreet (Mumbai) - The shared currency was heavily sold-off versus the US dollar in the mid-Asian trades, sending EUR/USD deep in red below 1.13 handle. The European currency ran through fresh sellers in Asia as the US dollar staged a solid come back against its major peers as markets now anticipate a positive batch of US macro releases later today. While looming Greek debt talks hurts the sentiment around the euro.
EUR/USD drops from 1.1324 on stronger USD
The EUR/USD pair trades -0.63% lower at 1.1269,
retreating from fresh session lows reached at 1.1256 last hours. The EUR/USD pair came under renewed selling pressure after the US dollar rebounded sharply higher as traders continue to cheer impressive existing home sales data from the US while keeping an eye on a bout of bout of US economic releases including durable goods orders, new home sales, and manufacturing data due for release later today.
The major also remains heavy given lack of progress seen on the Greece front with fallout seen once again at Monday’s EU Summit. Traders seem to have lost interest in this ongoing Greece saga and prefer to sell the shared currency on every rally to the upside towards 1.14 barrier.
Meanwhile, markets now await a raft of flash manufacturing PMIs to be published across the Euro area economic for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1346 (Today’s High) levels. On the flip side, support is seen at 1.1256 (Today’s Low) below which it could extend losses to 1.1211 (June 17 Low) levels.
EUR/USD drops from 1.1324 on stronger USD
The EUR/USD pair trades -0.63% lower at 1.1269,
retreating from fresh session lows reached at 1.1256 last hours. The EUR/USD pair came under renewed selling pressure after the US dollar rebounded sharply higher as traders continue to cheer impressive existing home sales data from the US while keeping an eye on a bout of bout of US economic releases including durable goods orders, new home sales, and manufacturing data due for release later today.
The major also remains heavy given lack of progress seen on the Greece front with fallout seen once again at Monday’s EU Summit. Traders seem to have lost interest in this ongoing Greece saga and prefer to sell the shared currency on every rally to the upside towards 1.14 barrier.
Meanwhile, markets now await a raft of flash manufacturing PMIs to be published across the Euro area economic for further momentum on the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1346 (Today’s High) levels. On the flip side, support is seen at 1.1256 (Today’s Low) below which it could extend losses to 1.1211 (June 17 Low) levels.