12 Jan 2015
EUR/USD ticks higher, 1.19 levels in sight
FXStreet (Mumbai) - The single currency remains elevated against the US dollar in the late-Asian session, as markets continue to digest weak US labour market report amid lack of fresh triggers, in a rather quiet start to a fresh week.
Currently, the EUR/USD pair trades higher by 0.12% at 1.1856 levels, inching towards 1.19 handle, having previously posted day’s low at 1.1846 levels. EUR/USD is expected to remain supported as the US dollar continues to weaken across the board after softer US payrolls numbers.
Meanwhile, markets now await a batch of crucial economic releases from the Euro-zone in the week ahead which may provide fresh cues on the direction of the major currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.19 levels, above which gains could be extended to 1.1969 (Jan 6 High) levels. On the flip side, support is seen at 1.18 levels, below which it could extend losses to 1.1753 levels.
Currently, the EUR/USD pair trades higher by 0.12% at 1.1856 levels, inching towards 1.19 handle, having previously posted day’s low at 1.1846 levels. EUR/USD is expected to remain supported as the US dollar continues to weaken across the board after softer US payrolls numbers.
Meanwhile, markets now await a batch of crucial economic releases from the Euro-zone in the week ahead which may provide fresh cues on the direction of the major currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.19 levels, above which gains could be extended to 1.1969 (Jan 6 High) levels. On the flip side, support is seen at 1.18 levels, below which it could extend losses to 1.1753 levels.