9 Apr 2015
EUR/USD steadies around daily low
FXStreet (Mumbai) - The EUR/USD continues to trade around the daily low of 1.0729 levels, as the bid tone on the USD persists on speculation of a mid-year rate hike by the Fed.
EUR stagnant even after Greece confirms payment to the IMF
The shared currency is unable to recover losses even after the Greek government official said the country will pay a EUR 450 million (USD 485 million) loan installment to the International Monetary Fund. The pair also ignored an upbeat German industrial production and trade surplus data to trade 0.31% lower for the day at 0.0747.
It remains to be seen if the market remains bid on the dollar ahead of the US session, which will provide the details of last week’s jobless claims data in the US.
EUR/USD Technical Levels
The immediate support is seen at 1.0778, above which the pair can rise to 1.0825. On the flip side, a break below 1.0711 could drive the pair lower to 1.0654.
EUR stagnant even after Greece confirms payment to the IMF
The shared currency is unable to recover losses even after the Greek government official said the country will pay a EUR 450 million (USD 485 million) loan installment to the International Monetary Fund. The pair also ignored an upbeat German industrial production and trade surplus data to trade 0.31% lower for the day at 0.0747.
It remains to be seen if the market remains bid on the dollar ahead of the US session, which will provide the details of last week’s jobless claims data in the US.
EUR/USD Technical Levels
The immediate support is seen at 1.0778, above which the pair can rise to 1.0825. On the flip side, a break below 1.0711 could drive the pair lower to 1.0654.