13 May 2015
EUR/USD struggles to sustain above 1.1250
FXStreet (Mumbai) - The EUR/USD pair is struggling to extend gains above 1.1250 levels as investors prefer to stay on the sidelines ahead of the Eurozone Q4 GDP report. The lack of buying interest is due to caution after a negative surprise from the German GDP.
Weak German yields weigh on the EUR
The limited upside in the may also be due to the weakness in the German bond yields. The benchmark 10-year yield retreated 2.7 basis points to 0.654%. However, the losses in the yields are pretty much in line with what is seen in the US benchmark 10-year Treasury yield. Consequently, the pair has not dipped into significant losses.
Nevertheless, the shared currency is feeling the weight of fall in German yields. Ahead in the day, both German bond markets and the EUR could be influenced by the Eurozone Q1 GDP data and the release of the ECB policy minutes.
EUR/USD Technical Levels
The immediate resistance is seen around 1.1277, above which the pair could rise towards its next major hurdle at 1.1390. On the other hand, a fall below 1.1215 could push the pair down to 1.1186 levels.
Weak German yields weigh on the EUR
The limited upside in the may also be due to the weakness in the German bond yields. The benchmark 10-year yield retreated 2.7 basis points to 0.654%. However, the losses in the yields are pretty much in line with what is seen in the US benchmark 10-year Treasury yield. Consequently, the pair has not dipped into significant losses.
Nevertheless, the shared currency is feeling the weight of fall in German yields. Ahead in the day, both German bond markets and the EUR could be influenced by the Eurozone Q1 GDP data and the release of the ECB policy minutes.
EUR/USD Technical Levels
The immediate resistance is seen around 1.1277, above which the pair could rise towards its next major hurdle at 1.1390. On the other hand, a fall below 1.1215 could push the pair down to 1.1186 levels.