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13 Apr 2015
EUR/USD drops to 1.0558
FXStreet (Mumbai) - The EUR caught a fresh offer wave, after the EUR/USD pair failed to sustain gains above 1.06 levels, despite weakness in the US Treasury yields. The pair dropped to 1.0558 after having clocked a high of 1.0615.
Rejected at 1.06
The pair has steadied itself around 1.0590-1.06 levels in the early European session. The upside was was repeatedly being capped in the range of 1.06-1.0610, post which the pair would find support around 1.0590. The technical sellers came-in after a reversal from 1.0615 marked another failure to sustain gain above 1.06.
The disappointing China trade figures continue to trigger demand for the USD as investors pile money into Treasuries., especially with negative rates in the Eurozone.
EUR/USD Technical Levels
The immediate support is seen at 1.0550, under which losses could be extended to 1.0461. On the flip side, a break above 1.06, could drive the pair higher to 1.0650.
Rejected at 1.06
The pair has steadied itself around 1.0590-1.06 levels in the early European session. The upside was was repeatedly being capped in the range of 1.06-1.0610, post which the pair would find support around 1.0590. The technical sellers came-in after a reversal from 1.0615 marked another failure to sustain gain above 1.06.
The disappointing China trade figures continue to trigger demand for the USD as investors pile money into Treasuries., especially with negative rates in the Eurozone.
EUR/USD Technical Levels
The immediate support is seen at 1.0550, under which losses could be extended to 1.0461. On the flip side, a break above 1.06, could drive the pair higher to 1.0650.