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14 Jan 2015
EUR/USD pulls away from 9-year lows, trades below 1.18 handle
FXStreet (Mumbai) - The single currency edged higher against the US dollar in the late-Asian session, as the US dollar rally it’s halted versus the major currencies.
Currently, the EUR/USD posts fresh daily highs at 1.1793, up 0.17% on the day, having previously posted day’s low at 1.1764 earlier in the session. EUR/USD fell to fresh nine-year lows at 1.1752 levels yesterday after the prospect of full-blown QE in the euro area becoming more realistic one week ahead of the European Central Bank (ECB) monetary policy meeting. However, the Euro remains vulnerable to downside risk ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) due out today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1860 (Jan 13 High) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.1752 (Jan 13 Low) levels, below which it could extend losses to 1.17 levels.
Currently, the EUR/USD posts fresh daily highs at 1.1793, up 0.17% on the day, having previously posted day’s low at 1.1764 earlier in the session. EUR/USD fell to fresh nine-year lows at 1.1752 levels yesterday after the prospect of full-blown QE in the euro area becoming more realistic one week ahead of the European Central Bank (ECB) monetary policy meeting. However, the Euro remains vulnerable to downside risk ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) due out today.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1860 (Jan 13 High) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.1752 (Jan 13 Low) levels, below which it could extend losses to 1.17 levels.