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17 Sep 2015
EUR/USD at daily highs as Euro Stoxx dropped
FXStreet (Mumbai) - The EUR/USD pair rose to its daily high of 1.1322 as the Euro Stoxx 50 futures erased gains to trade with moderate losses.
USD offered in early Europe
The USD is being offered against the European majors, despite the two-year yield staying resilient around its 4-year high of 0.80%. The losses in the Euro Stoxx 50 futures, weakness in the US index futures and the resulting risk-off is pushing the EUR higher.
The Eurozone economic calendar is empty, thus, EUR traders could continue to track the movement in the equity markets. The movement in the EUR/GBP cross after the UK retail sales release may also influence the EUR/USD pair.
EUR/USD Technical Levels
The immediate resistance is located at 1.1332 (Sep 1 high), above which the pair could target 1.1373 (Sep 14 high). On the other hand, support is seen at 1.1283 (Sep 14 low) and 1.1228 (200-DMA).
USD offered in early Europe
The USD is being offered against the European majors, despite the two-year yield staying resilient around its 4-year high of 0.80%. The losses in the Euro Stoxx 50 futures, weakness in the US index futures and the resulting risk-off is pushing the EUR higher.
The Eurozone economic calendar is empty, thus, EUR traders could continue to track the movement in the equity markets. The movement in the EUR/GBP cross after the UK retail sales release may also influence the EUR/USD pair.
EUR/USD Technical Levels
The immediate resistance is located at 1.1332 (Sep 1 high), above which the pair could target 1.1373 (Sep 14 high). On the other hand, support is seen at 1.1283 (Sep 14 low) and 1.1228 (200-DMA).