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3 Mar 2015
EUR/USD finds support ahead of 1.1150
FXStreet (Córdoba) - EUR/USD bounced off fresh 1-month lows and managed to trim intraday losses to trade nearly flat on the day at the beginning of the American session.
EUR/USD reached a daily high of 1.1211 following strong German retail sales data, but failed to hold gains and quickly fell to a fresh 5-week low of 1.1154, before finding support. At time of writing, the pair is trading at 1.1170, just a few pips below its opening price.
With only second-tier data scheduled for the rest of the day, investors will likely remain cautious ahead of the ECB meeting on Thursday and the NFP report on Friday.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate supports at 1.1154 (daily low), 1.1114 (Jan 23 low) and 1.1097 (11-year low Jan 26). On the other hand, resistances are seen at 1.1211 (daily high), the 1.1240/44 area (Mar 2/Feb 27 highs) and 1.1238 (100-hour SMA).
EUR/USD reached a daily high of 1.1211 following strong German retail sales data, but failed to hold gains and quickly fell to a fresh 5-week low of 1.1154, before finding support. At time of writing, the pair is trading at 1.1170, just a few pips below its opening price.
With only second-tier data scheduled for the rest of the day, investors will likely remain cautious ahead of the ECB meeting on Thursday and the NFP report on Friday.
EUR/USD levels to watch
As for technical levels, EUR/USD could find immediate supports at 1.1154 (daily low), 1.1114 (Jan 23 low) and 1.1097 (11-year low Jan 26). On the other hand, resistances are seen at 1.1211 (daily high), the 1.1240/44 area (Mar 2/Feb 27 highs) and 1.1238 (100-hour SMA).