26 May 2015
EUR/USD dips to fresh monthly lows near 1.0930
FXStreet (Mumbai) - The shared currency extends weakness in to the early European trades, with EUR/USD printing fresh one-month lows below 1.0930 levels. The major continues its recent run of losses today amid persistent USD strength as Greek default fears continues to take a toll on the common currency.
EUR/USD drops from 1.0950
The EUR/USD pair trades -0.43% at fresh one month lows of 1.0928, having previously posted day’s high at 1.0971. EUR/USD remains relentlessly sold-off with losses accelerated ahead of Europe open as traders favoured the US dollar amid looming Greece concerns.
Increased speculation around what might happen if Greece fails to meet its debt repayments to the International Monetary Fund (IMF) early next month appear to be dominating sentiment for the euro.
Moreover, divergent monetary policies between the US and the old continent as the Fed prepare to increase rates this year also keeps the euro undermined.
Meanwhile, EUR/USD remains pressured amid a data-dry European calendar with markets now focussing on a batch of US economic releases for fresh cues.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0971 (Today’s High) levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0900 below which it could extend losses to 1.0858 (April 28 High) levels.
EUR/USD drops from 1.0950
The EUR/USD pair trades -0.43% at fresh one month lows of 1.0928, having previously posted day’s high at 1.0971. EUR/USD remains relentlessly sold-off with losses accelerated ahead of Europe open as traders favoured the US dollar amid looming Greece concerns.
Increased speculation around what might happen if Greece fails to meet its debt repayments to the International Monetary Fund (IMF) early next month appear to be dominating sentiment for the euro.
Moreover, divergent monetary policies between the US and the old continent as the Fed prepare to increase rates this year also keeps the euro undermined.
Meanwhile, EUR/USD remains pressured amid a data-dry European calendar with markets now focussing on a batch of US economic releases for fresh cues.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0971 (Today’s High) levels, above which gains could be extended to 1.1000 levels. On the flip side, support is seen at 1.0900 below which it could extend losses to 1.0858 (April 28 High) levels.