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27 Feb 2015
EUR/USD clings on to 1.12 handle
FXStreet (Mumbai) - EUR/USD holds gains above 1.12 threshold in the early European morning, extending its gradual increase from the Asian session as traders await crucial German inflation print due later in the day.
EUR/USD rises to fresh session highs
The EUR/USD now trades 0.14% higher at 1.1213 levels, hovering close to fresh session highs of 1.1216 posted few minutes ago. EUR/USD wavers above 1.1200 as traders now eye German CPI print later in the session further direction on the pair. However, the upside in the pair seems limited ahead of US GDP data, with the US economy predicted to grow in the Q4 2014 at an annualized rate of 2.0%, down from the first estimate of 2.6%.
EUR/USD finally broke from its tight consolidation phase yesterday and slipped below 1.12 handle as traders bought the dollar amid positive US macro figures, specifically CPI and durable goods orders.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1297 levels, above which gains could be extended to 1.1320 levels. On the flip side, support is seen at 1.1200 levels, below which it could extend losses to 1.1184 (Feb 26 Low) levels.
EUR/USD rises to fresh session highs
The EUR/USD now trades 0.14% higher at 1.1213 levels, hovering close to fresh session highs of 1.1216 posted few minutes ago. EUR/USD wavers above 1.1200 as traders now eye German CPI print later in the session further direction on the pair. However, the upside in the pair seems limited ahead of US GDP data, with the US economy predicted to grow in the Q4 2014 at an annualized rate of 2.0%, down from the first estimate of 2.6%.
EUR/USD finally broke from its tight consolidation phase yesterday and slipped below 1.12 handle as traders bought the dollar amid positive US macro figures, specifically CPI and durable goods orders.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1297 levels, above which gains could be extended to 1.1320 levels. On the flip side, support is seen at 1.1200 levels, below which it could extend losses to 1.1184 (Feb 26 Low) levels.