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28 Jan 2015
EUR/USD trades near session lows, below 1.1400
FXStreet (Mumbai) - The Euro fell against the US dollar during the Asian session, snapping two back-to-back session of gains as traders eagerly await the US Fed policy statement due later today.
The EUR/USD now trades at 1.1335 levels, lower by -0.39% on the day, heading towards intraday lows hit at 1.1330 levels. The pair is consolidating in the range of 1.1330-1.1368 levels as traders seek fresh incentives in absence of major economic release for the pair in the day ahead. Moreover, markets have begun pricing in for a more cautionary approach on behalf of the Federal Reserve and with the USD bulls back on board the downtrend is likely to be intact.
The pair kept the majority of its gains and broke above 1.14 levels in the previous session after weak set of economic data from the US bolstered the Euro against the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1368 (Today’s High) levels, above which gains could be extended to 1.1400 (10-DMA) levels. On the flip side, support is seen at 1.1316 (Jan 22 Low) levels, below which it could extend losses to 1.1262 (5-DMA)
The EUR/USD now trades at 1.1335 levels, lower by -0.39% on the day, heading towards intraday lows hit at 1.1330 levels. The pair is consolidating in the range of 1.1330-1.1368 levels as traders seek fresh incentives in absence of major economic release for the pair in the day ahead. Moreover, markets have begun pricing in for a more cautionary approach on behalf of the Federal Reserve and with the USD bulls back on board the downtrend is likely to be intact.
The pair kept the majority of its gains and broke above 1.14 levels in the previous session after weak set of economic data from the US bolstered the Euro against the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1368 (Today’s High) levels, above which gains could be extended to 1.1400 (10-DMA) levels. On the flip side, support is seen at 1.1316 (Jan 22 Low) levels, below which it could extend losses to 1.1262 (5-DMA)