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4 May 2015
EUR/USD eases off highs, back below 1.1200
FXStreet (Mumbai) - EUR/USD retreated from fresh session highs above 1.12 handle and trades flat in the early European morning, as the US dollar erased losses versus its major competitors following profit-taking on the recent US data-backed strength.
EUR/USD retraces from 1.1224 highs
The EUR/USD trades flat at 1.1192, deflating from fresh session highs reached at 1.1224 some time ago. EUR/USD wiped out losses and trades muted awaiting fresh cues from a series of Euro zone final PMI numbers due out shortly.
Earlier in the session, the major edged higher to session highs after the U dollar retreated slightly versus its major counterparts largely on profit-booking after the recent strength on the back of Upbeat U economic data and Fed official Loretta Mester hawkish comments.
Meanwhile, traders may now focus on a flurry of manufacturing PMI readings across the Euro area while US factory orders data is also awaited for further momentum on the major. The flash PMI for Germany's manufacturing sector activity recorded 51.9, with the indicator expected to hold in the final result.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1153 (March 3 Low) below which it could extend losses to 1.1100 levels.
EUR/USD retraces from 1.1224 highs
The EUR/USD trades flat at 1.1192, deflating from fresh session highs reached at 1.1224 some time ago. EUR/USD wiped out losses and trades muted awaiting fresh cues from a series of Euro zone final PMI numbers due out shortly.
Earlier in the session, the major edged higher to session highs after the U dollar retreated slightly versus its major counterparts largely on profit-booking after the recent strength on the back of Upbeat U economic data and Fed official Loretta Mester hawkish comments.
Meanwhile, traders may now focus on a flurry of manufacturing PMI readings across the Euro area while US factory orders data is also awaited for further momentum on the major. The flash PMI for Germany's manufacturing sector activity recorded 51.9, with the indicator expected to hold in the final result.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1224 (Today’ High) levels, above which gains could be extended to 1.1268 (April 30 High) levels. On the flip side, support is seen at 1.1153 (March 3 Low) below which it could extend losses to 1.1100 levels.