9 Mar 2015
EUR/USD climbs to fresh session highs above 1.0880
FXStreet (Mumbai) - EUR/USD recovered partial losses from the previous session and edged higher in the European morning as traders brace for the QE launch and focus on the upcoming Euro group meeting for fresh incentives.
EUR/USD rises from 1.0850 levels
The EUR/USD now trades higher by 0.37% at fresh session highs of 1.0888, drifting away from fresh twelve year lows previously posted at 0.0836. EUR/USD rallies to fresh session highs as the US dollar surrendered previous gains and fell to lows across the board.
However, EUR/USD remains undermined on divergent monetary outlooks between the US and the European continent as the recent bullish US jobs data raised earlier Fed rate-hike expectations while the ECB’s QE commences today.
Moreover, traders now eye the implementation of ECB’s QE and also the renegotiations over Greece debt repayments today between the Greek government and EU finance ministers for further direction on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0900 levels, above which gains could be extended to 1.0950 levels. On the flip side, support is seen at 1.0836 levels, below which it could extend losses to 1.0800 levels.
EUR/USD rises from 1.0850 levels
The EUR/USD now trades higher by 0.37% at fresh session highs of 1.0888, drifting away from fresh twelve year lows previously posted at 0.0836. EUR/USD rallies to fresh session highs as the US dollar surrendered previous gains and fell to lows across the board.
However, EUR/USD remains undermined on divergent monetary outlooks between the US and the European continent as the recent bullish US jobs data raised earlier Fed rate-hike expectations while the ECB’s QE commences today.
Moreover, traders now eye the implementation of ECB’s QE and also the renegotiations over Greece debt repayments today between the Greek government and EU finance ministers for further direction on the major.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0900 levels, above which gains could be extended to 1.0950 levels. On the flip side, support is seen at 1.0836 levels, below which it could extend losses to 1.0800 levels.