19 Feb 2015
EUR/USD hit a fresh session high
FXStreet (Mumbai) - The EUR/USD pair hit a high of 1.1448 as Greece aims to conclude an agreement with its Eurozone partners, while the dovish Fed minutes released in the previous session keeps the US dollar under pressure.
EUR/USD: Trades above 23.6% Fib level
The pair rose above the 23.6% Fib retracement of 1.1098-1.1532 located at 1.1430. However, gains are being capped around the technical resistance located around 1.1440-1.1447 levels. The EUR gained as the Greek fears continue to fade. The Greece’s government is said to soften its stance and is applying for the extension of the bailout program. Meanwhile, the European Central Bank (ECB) reportedly agreed to raise the emergency funding available to Greek banks to EUR 68.3 billion.
On the other hand, the USD remains under pressure after the Fed minutes released yesterday showed policymakers are in no hurry to raise the interest rates.
EUR/USD Technical Levels
The pair currently trades at 1.1439, with the immediate resistance seen at 1.1448. A break above the same could push the pair to 1.15 levels. On the flip side, support is seen at 1.1430 and 1.14 levels.
EUR/USD: Trades above 23.6% Fib level
The pair rose above the 23.6% Fib retracement of 1.1098-1.1532 located at 1.1430. However, gains are being capped around the technical resistance located around 1.1440-1.1447 levels. The EUR gained as the Greek fears continue to fade. The Greece’s government is said to soften its stance and is applying for the extension of the bailout program. Meanwhile, the European Central Bank (ECB) reportedly agreed to raise the emergency funding available to Greek banks to EUR 68.3 billion.
On the other hand, the USD remains under pressure after the Fed minutes released yesterday showed policymakers are in no hurry to raise the interest rates.
EUR/USD Technical Levels
The pair currently trades at 1.1439, with the immediate resistance seen at 1.1448. A break above the same could push the pair to 1.15 levels. On the flip side, support is seen at 1.1430 and 1.14 levels.