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10 Sep 2015
EUR/USD eases-off-fresh weekly highs, above 1.1200 in early moves
FXStreet (Mumbai) - The EUR/USD pair extends its choppiness in to the early European morning, although held on to yesterday’s gains as wide-spread risk-aversion across the financial markets continue to support the euro pair.
EUR/USD drops from 1.1245
The EUR/USD pair trades muted at 1.1208, clinging to 1.12 barrier. The main currency pair tried hard to retain yesterday’s gains, retracing from fresh weekly highs reached in early Asia.
The EUR/USD pair remains better bid on persisting risk-off trades as we progress towards the European opening bells, as markets anticipate European indices to reversed previous gains and open today on a bearish note, following negative lead from the Asian and US markets.
Whilst there is nothing of relevance to be reported in the EUR calendar today, markets will closely tracking the sentiment around the European indices, which is expected to influence the funding currency in the euro. While BOE Super Thursday will be watched any cross driven impact on the euro.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1245 (Today’s High), above which gains could be extended to 1.1264 (Aug 31 High) levels. On the flip side, support is seen at 1.1151 (Sept 8 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.
EUR/USD drops from 1.1245
The EUR/USD pair trades muted at 1.1208, clinging to 1.12 barrier. The main currency pair tried hard to retain yesterday’s gains, retracing from fresh weekly highs reached in early Asia.
The EUR/USD pair remains better bid on persisting risk-off trades as we progress towards the European opening bells, as markets anticipate European indices to reversed previous gains and open today on a bearish note, following negative lead from the Asian and US markets.
Whilst there is nothing of relevance to be reported in the EUR calendar today, markets will closely tracking the sentiment around the European indices, which is expected to influence the funding currency in the euro. While BOE Super Thursday will be watched any cross driven impact on the euro.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1245 (Today’s High), above which gains could be extended to 1.1264 (Aug 31 High) levels. On the flip side, support is seen at 1.1151 (Sept 8 Low) below which it could extend losses to 1.1086 (Sept 3 Low) levels.