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25 May 2015
EUR/USD rises to 1.10
FXStreet (Mumbai) - The common currency is being bid higher in the early European session, taking the EUR/USD pair just above the 1.10 handle.
EUR/USD: Back above 50-DMA
The pair recovered from the low of 1.0964 to trade above its 50-DMA located at 1.1004. The shared currency underperformed in the overnight trade after the exit polls of Spanish local and regional underscored the growing influence of Podemos, an anti-austerity party in the mold of Greece’s now-ruling Syriza.
Over the week the Greek interior minister once again rattled the sentiment after mentioning the country would not be able to meet the IMF payment due in June. Ahead in the day, market holidays in the UK, Germany and the US are likely to keep trading volumes thin.
EUR/USD Technical Levels
A break above the immediate resistance located at 100-DMA at 1.1039 could open doors for 1.1082 levels. On the other hand, a break below 1.0963 could push the pair lower to 1.0920-1.09 levels.
EUR/USD: Back above 50-DMA
The pair recovered from the low of 1.0964 to trade above its 50-DMA located at 1.1004. The shared currency underperformed in the overnight trade after the exit polls of Spanish local and regional underscored the growing influence of Podemos, an anti-austerity party in the mold of Greece’s now-ruling Syriza.
Over the week the Greek interior minister once again rattled the sentiment after mentioning the country would not be able to meet the IMF payment due in June. Ahead in the day, market holidays in the UK, Germany and the US are likely to keep trading volumes thin.
EUR/USD Technical Levels
A break above the immediate resistance located at 100-DMA at 1.1039 could open doors for 1.1082 levels. On the other hand, a break below 1.0963 could push the pair lower to 1.0920-1.09 levels.