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14 Apr 2015
EUR/USD back below 1.0550
FXStreet (Mumbai) - The EUR came under fresh selling pressure in the Asian session today, taking the EUR/USD pair below 1.0550 levels.
Rejected near 1.06
The minor bid wave on the EUR seen earlier today failed to take the pair above 1.006 levels, as the it reversed direction from 1.0592 levels to trade at the current level of 1.0546. Still, the pair is slightly stronger, when compared to the previous session’s low at 1.0519.
Ahead in the day, we have the Eurozone industrial production data, which is expected to show the activity slowed down in February. Meanwhile, Greek issue would continue to influence the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.06 (5-DMA), above which gains could be extended to 1.0650 levels. On the flip side, a break below 1.05 could see the pair drop to 1.0461.
Rejected near 1.06
The minor bid wave on the EUR seen earlier today failed to take the pair above 1.006 levels, as the it reversed direction from 1.0592 levels to trade at the current level of 1.0546. Still, the pair is slightly stronger, when compared to the previous session’s low at 1.0519.
Ahead in the day, we have the Eurozone industrial production data, which is expected to show the activity slowed down in February. Meanwhile, Greek issue would continue to influence the pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.06 (5-DMA), above which gains could be extended to 1.0650 levels. On the flip side, a break below 1.05 could see the pair drop to 1.0461.