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26 Feb 2015
EUR/USD sidelined around 1.1360, German jobs data awaited
FXStreet (Mumbai) - EUR/USD continues to trade around a flatline in European morning, little changed by the German consumer climate data as markets now await employment data from German due shortly.
EUR/USD recovers from 1.1348 levels
The EUR/USD now trades flat at 1.1359 levels, having previously posted fresh session lows at 1.1348 post German data. EUR/USD remains stuck in a tight range, with cheerful German data and Spanish growth numbers failing to provide impetus to the markets. Traders now search for fresh cues from the upcoming string of data releases from the Euro area including German jobs data and ECB TLTRO results for further momentum on the pair.
Moreover, a batch of crucial macro data from the US may also set the tone for further dollar moves as Yellen’s testimony did little to lift the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1430 (Feb 20 High) levels. On the flip side, support is seen at 1.1347 (50-DMA) levels, below which it could extend losses to 1.1300 levels.
EUR/USD recovers from 1.1348 levels
The EUR/USD now trades flat at 1.1359 levels, having previously posted fresh session lows at 1.1348 post German data. EUR/USD remains stuck in a tight range, with cheerful German data and Spanish growth numbers failing to provide impetus to the markets. Traders now search for fresh cues from the upcoming string of data releases from the Euro area including German jobs data and ECB TLTRO results for further momentum on the pair.
Moreover, a batch of crucial macro data from the US may also set the tone for further dollar moves as Yellen’s testimony did little to lift the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1400 levels, above which gains could be extended to 1.1430 (Feb 20 High) levels. On the flip side, support is seen at 1.1347 (50-DMA) levels, below which it could extend losses to 1.1300 levels.