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26 Feb 2015
EUR/USD flattish below 1.1400 ahead of German data
FXStreet (Mumbai) - EUR/USD remains subdued below 1.14 threshold in the early European morning, as markets remains now await a set of crucial Euro zone economic releases for fresh incentives.
EUR/USD rises from 1.1354 levels
The EUR/USD now trades flat at 1.1364 levels, having previously posted day’s lows at 1.1358 and day’s high at 1.1374 levels. EUR/USD remains stuck in a tight range, looking for fresh cues from the upcoming string of data releases from the Euro area including German consumer climate, German jobs data and ECB TLTRO results.
Moreover, the pair failed to find a clear direction as Fed Yellen’s second testimony before the House once again disappointed markets, repeating that the US central bank plans to change forward guidance before rates rise.
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 rises from 1.1354 levels
The EUR/USD now trades flat at 1.1364 levels, having previously posted day’s lows at 1.1358 and day’s high at 1.1374 levels. EUR/USD remains stuck in a tight range, looking for fresh cues from the upcoming string of data releases from the Euro area including German consumer climate, German jobs data and ECB TLTRO results.
Moreover, the pair failed to find a clear direction as Fed Yellen’s second testimony before the House once again disappointed markets, repeating that the US central bank plans to change forward guidance before rates rise.
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.