25 Feb 2015
EUR/USD back at 1.1360 levels
FXStreet (Mumbai) - The fresh round of sell-off in the USD at the European session failed to last long as the EUR/USD pair dipped from the session high of 1.1387 to trade at 1.1365-1.1360 levels.
EUR/USD – back below 5-DMA and 10-DMA
The pair fell from the session high to trade below the 5-DMA and the 10-DMA located at 1.1357 and 1.1368 levels. Given the absence of macroeconomic data releases out of the Eurozone, the focus is solely on Draghi’s testimony to the European Parliament. The recent economic data out of the Eurozone have been upbeat. However, investors are likely to prefer being on the sidelines rather than make big bets on Draghi’s outlook on the Eurozone economy.
Meanwhile, the dovish comments from Yellen and the weakness in the Treasury yields could cap losses in the EUR/USD pair. Along with Draghi’s speech, investors shall also keep an eye on another round of Yellen’s testimony before the House.
EUR/USD Technical Levels
The pair has an immediate resistance at the daily high of 1.1387, above which gains could be extended to 1.1430 levels. On the flip side, major support is seen at 1.1315 and 1.1264 levels.
EUR/USD – back below 5-DMA and 10-DMA
The pair fell from the session high to trade below the 5-DMA and the 10-DMA located at 1.1357 and 1.1368 levels. Given the absence of macroeconomic data releases out of the Eurozone, the focus is solely on Draghi’s testimony to the European Parliament. The recent economic data out of the Eurozone have been upbeat. However, investors are likely to prefer being on the sidelines rather than make big bets on Draghi’s outlook on the Eurozone economy.
Meanwhile, the dovish comments from Yellen and the weakness in the Treasury yields could cap losses in the EUR/USD pair. Along with Draghi’s speech, investors shall also keep an eye on another round of Yellen’s testimony before the House.
EUR/USD Technical Levels
The pair has an immediate resistance at the daily high of 1.1387, above which gains could be extended to 1.1430 levels. On the flip side, major support is seen at 1.1315 and 1.1264 levels.