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19 Mar 2015
EUR/USD extends losses below 1.08
FXStreet (Mumbai) - EUR/USD extends its descent in the late-Asian session, having bounced-off fresh two week highs at 1.0993 levels reached in the previous session, as the US dollar rebounds across the board in a corrective rally post the FOMC slump.
EUR/USD falls from 1.0918
The EUR/USD now trades at 1.0770 levels, recording a loss of -0.91% on the day, having previously posted day’s high at 1.0918 and day’s low at 1.0758. EUR/USD took a halt in its upside rally and dived deeper into red mainly driven by profit-taking after the euro wad heavily bid in the US last session after dovish FOMC statement drowned the US dollar to fresh three week lows.
In the day ahead, EUR/USD is likely to take cues from the upcoming SNB monetary policy decision, ECB TLTRO announcement and US macro data while the US dollar may extend its recovery.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0856 (March 10 High) levels, above which gains could be extended to 1.0900 levels. On the flip side, support is seen at 1.0700 levels, below which it could extend losses to 1.0579 (March 18 Low) levels.
EUR/USD falls from 1.0918
The EUR/USD now trades at 1.0770 levels, recording a loss of -0.91% on the day, having previously posted day’s high at 1.0918 and day’s low at 1.0758. EUR/USD took a halt in its upside rally and dived deeper into red mainly driven by profit-taking after the euro wad heavily bid in the US last session after dovish FOMC statement drowned the US dollar to fresh three week lows.
In the day ahead, EUR/USD is likely to take cues from the upcoming SNB monetary policy decision, ECB TLTRO announcement and US macro data while the US dollar may extend its recovery.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0856 (March 10 High) levels, above which gains could be extended to 1.0900 levels. On the flip side, support is seen at 1.0700 levels, below which it could extend losses to 1.0579 (March 18 Low) levels.