Back
4 May 2015
EUR/USD deep in red near 1.1150
FXStreet (Mumbai) - EUR/USD keeps losses, albeit recovered from fresh session lows in mid-European session, as the shared remains pressured versus the greenback as lack lustre Euro zone PMI readings overshadowed mild gains seen in the major on rising short-term German yields.
EUR/USD recovers from 1.1136
The EUR/USD trades -0.46% lower at 1.1147, moving farther from 1.12 barrier, having posted 1.1136 fresh session lows on mixed EZ data. EUR/USD remains in red after The manufacturing PMI in Germany came out at 52.1, slightly lower than 52.8 in March, while the French gauge printed 48.0 and ticked higher from 48.8 in March on Monday.
Moreover, a solid rebound in the US dollar versus its major counterparts riding higher on the wave of the recent upbeat US macro data and Fed’s Mester hawkish comments on Friday.
Meanwhile, traders may now focus on EZ Services PMI and German factory orders while a host of key US data due later this week may also keep markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1136 (Today’s Low) below which it could extend losses to 1.1100 levels.
EUR/USD recovers from 1.1136
The EUR/USD trades -0.46% lower at 1.1147, moving farther from 1.12 barrier, having posted 1.1136 fresh session lows on mixed EZ data. EUR/USD remains in red after The manufacturing PMI in Germany came out at 52.1, slightly lower than 52.8 in March, while the French gauge printed 48.0 and ticked higher from 48.8 in March on Monday.
Moreover, a solid rebound in the US dollar versus its major counterparts riding higher on the wave of the recent upbeat US macro data and Fed’s Mester hawkish comments on Friday.
Meanwhile, traders may now focus on EZ Services PMI and German factory orders while a host of key US data due later this week may also keep markets on the edge.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1136 (Today’s Low) below which it could extend losses to 1.1100 levels.