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28 Jan 2015
EUR/USD spikes to fresh daily highs, 1.1400 in sight
FXStreet (Mumbai) - The Euro spiked to fresh session highs the US dollar during the early European morning, wiping out most of its losses from the Asian session.
The EUR/USD now rebounded from session lows and rallied to post fresh daily highs at 1.1378 levels. The pair reversed most of its slide as the US dollar eased against its major counterparts as traders remain wary ahead of the US Fed Policy decision.
Moreover, markets have begun pricing in for a more cautionary approach on behalf of the Federal Reserve may keep the pair buoyed.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 (10-DMA) levels, above which gains could be extended to 1.1422 (Jan 27 High) levels. On the flip side, support is seen at 1.1316 (Jan 22 Low) levels, below which it could extend losses to 1.1262 (5-DMA)
The EUR/USD now rebounded from session lows and rallied to post fresh daily highs at 1.1378 levels. The pair reversed most of its slide as the US dollar eased against its major counterparts as traders remain wary ahead of the US Fed Policy decision.
Moreover, markets have begun pricing in for a more cautionary approach on behalf of the Federal Reserve may keep the pair buoyed.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 (10-DMA) levels, above which gains could be extended to 1.1422 (Jan 27 High) levels. On the flip side, support is seen at 1.1316 (Jan 22 Low) levels, below which it could extend losses to 1.1262 (5-DMA)