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20 Apr 2015
EUR/USD extends losses to 1.0740
FXStreet (Mumbai) - The shared currency continues to be relentlessly offered against the US dollar in the European session, knocking-off EUR/USD to fresh session lower closer to 1.07 handle, largely on a broadly stronger USD while the euro remains undermined Greece debt woes ahead of Friday’s Euro group meeting.
EUR/USD drops sharply from 1.0760
The EUR/USD trades lower by -0.63% at 1.0740, hovering near fresh session lows of 1.0734. EUR/USD dived deeper in red as the US dollar witnessed a solid pick-up in buying interest against its major competitors. The DXY climbed to fresh two-day highs at 98.07, recording a 0.43% gain on the day.
The EUR/USD pair accelerates losses and inches closer towards 1.07 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, markets now shift their focus on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0700 below which it could extend losses to 1.0648 levels.
EUR/USD drops sharply from 1.0760
The EUR/USD trades lower by -0.63% at 1.0740, hovering near fresh session lows of 1.0734. EUR/USD dived deeper in red as the US dollar witnessed a solid pick-up in buying interest against its major competitors. The DXY climbed to fresh two-day highs at 98.07, recording a 0.43% gain on the day.
The EUR/USD pair accelerates losses and inches closer towards 1.07 handle as Greek concerns continue to pull the euro down, with the pressure rising as Friday’s Euro group meeting approaches. Greece concerns are expected to remain the major driver in the week ahead.
Meanwhile, markets now shift their focus on tomorrow’s ZEW economic sentiments and a raft of EZ PMIs later this week in absence of significant economic releases in the day ahead.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0818 (Today’s High) levels, above which gains could be extended to 1.0850 (April 17 High) levels. On the flip side, support is seen at 1.0700 below which it could extend losses to 1.0648 levels.