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15 Jan 2015
EUR/USD posts fresh daily lows, back below 1.18
FXStreet (Mumbai) - The single currency shaved off previous session’s gains against the US dollar and resumed its downtrend as the greenback bulls returned to support the US dollar.
Currently, the EUR/USD posts fresh daily lows at 1.1766, down -0.19% on the day, inching towards fresh nine year lows of 1.1726 levels reached yesterday. EUR/USD continued its slide today as traders turned their attention once again on the European Central Bank (ECB) and its meeting on January 22. The traders also remained cautious ahead of Germany’s GDP numbers due for release later today.
The single currency recovered briefly from fresh nine-year lows yesterday after disappointing US retail sales report failed to pacified the greenback bulls.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1807 (5-DMA) levels, above which gains could be extended to 1.1860 (Jan 13 High) levels. On the flip side, support is seen at 1.1752 (Jan 13 Low) levels, below which it could extend losses to 1.1726 (Jan 14 Low) levels.
Currently, the EUR/USD posts fresh daily lows at 1.1766, down -0.19% on the day, inching towards fresh nine year lows of 1.1726 levels reached yesterday. EUR/USD continued its slide today as traders turned their attention once again on the European Central Bank (ECB) and its meeting on January 22. The traders also remained cautious ahead of Germany’s GDP numbers due for release later today.
The single currency recovered briefly from fresh nine-year lows yesterday after disappointing US retail sales report failed to pacified the greenback bulls.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1807 (5-DMA) levels, above which gains could be extended to 1.1860 (Jan 13 High) levels. On the flip side, support is seen at 1.1752 (Jan 13 Low) levels, below which it could extend losses to 1.1726 (Jan 14 Low) levels.