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3 Mar 2015
EUR/USD rises to retest 1.1200 level
FXStreet (Córdoba) - EUR/USD bounced from a 5-week low and erased intraday losses at the beginning of the New York session as the dollar weakened across the board over the last hours and gave up early gains.
EUR/USD managed to climb back to the 1.1200 area but it has lacked strength to regain the psychological mark. At time of writing, the pair is trading at 1.1190, just a few pips above its opening price.
In the absence of first-tier data, EUR/USD has continued to trade within its recent range, making a marginal new low of 1.1154 during the European session. However, investors might choose to remain sidelined ahead of the ECB meeting on Thursday and the US nonfarm payrolls report on Friday.
EUR/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.1211 (daily high), the 1.1240/44 area (Mar 2/Feb 27 highs) and 1.1238 (100-hour SMA). On the flip side, supports could be faced at 1.1154 (daily low), 1.1114 (Jan 23 low) and 1.1097 (11-year low Jan 26).
EUR/USD managed to climb back to the 1.1200 area but it has lacked strength to regain the psychological mark. At time of writing, the pair is trading at 1.1190, just a few pips above its opening price.
In the absence of first-tier data, EUR/USD has continued to trade within its recent range, making a marginal new low of 1.1154 during the European session. However, investors might choose to remain sidelined ahead of the ECB meeting on Thursday and the US nonfarm payrolls report on Friday.
EUR/USD technical levels
In terms of technical levels, immediate resistances are seen at 1.1211 (daily high), the 1.1240/44 area (Mar 2/Feb 27 highs) and 1.1238 (100-hour SMA). On the flip side, supports could be faced at 1.1154 (daily low), 1.1114 (Jan 23 low) and 1.1097 (11-year low Jan 26).