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5 May 2015
EUR/USD recovers to 1.1125
FXStreet (Mumbai) - The EUR/USD pair recovered from the low of 1.1081 to trade at 1.1125, on the back of the upward revision of the Eurozone growth forecasts by the European Commission (EC).
EUR/USD: US data awaited
The recovery in the pair appears to have stalled around 1.1120 levels ahead of the services PMI data in the US. The weakness could have been due to German yields, which have dropped for the first time after three consecutive sessions of gains. The 10-year Bund yield fell 1.5 basis points to 0.438%. Meanwhile, its US counterpart has gained almost one basis point to trade at 2.142%.
Still, the shared currency has been able to take back its losses against the American dollar. The pair may turn positive in case the US services PMI data indicates expansion of the activity in April.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1136, above which the pair could extend gains to 1.1176 (5-DMA). On the flip side, a break below 1.1094 (100-DMA), could drive the pair lower to 1.1050.
EUR/USD: US data awaited
The recovery in the pair appears to have stalled around 1.1120 levels ahead of the services PMI data in the US. The weakness could have been due to German yields, which have dropped for the first time after three consecutive sessions of gains. The 10-year Bund yield fell 1.5 basis points to 0.438%. Meanwhile, its US counterpart has gained almost one basis point to trade at 2.142%.
Still, the shared currency has been able to take back its losses against the American dollar. The pair may turn positive in case the US services PMI data indicates expansion of the activity in April.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1136, above which the pair could extend gains to 1.1176 (5-DMA). On the flip side, a break below 1.1094 (100-DMA), could drive the pair lower to 1.1050.