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14 Apr 2015
EUR/USD back below 1.055
FXStreet (Mumbai) - The shared currency failed to extend the recovery as it fell back below 1.055 levels despite of an uptick in the Spanish inflation. The EUR/USD pair also ignored strong Italian numbers as it continues to trade below 1.055.
EUR/USD: Down 4.3% in seven sessions
The pair has declined more than 4.3% from the high of 1.1035 seen on April 6th. This is the seventh session of losses for the pair head of the ECB meet later this week. Whether the pair ends lower for the seventh consecutive session largely depends on the US retails sales data due for release later today.
In the meantime, the pair could also be influenced by the Eurozone industrial production data due for release in an hour.
EUR/USD Technical Levels
The pair currently trades at 1.0545, after having recovered from the session low of 1.0530. The support is seen at 1.05 and 1.0461 levels. On the flip side, a resistance is seen at 1.0570 and 1.06 levels.
EUR/USD: Down 4.3% in seven sessions
The pair has declined more than 4.3% from the high of 1.1035 seen on April 6th. This is the seventh session of losses for the pair head of the ECB meet later this week. Whether the pair ends lower for the seventh consecutive session largely depends on the US retails sales data due for release later today.
In the meantime, the pair could also be influenced by the Eurozone industrial production data due for release in an hour.
EUR/USD Technical Levels
The pair currently trades at 1.0545, after having recovered from the session low of 1.0530. The support is seen at 1.05 and 1.0461 levels. On the flip side, a resistance is seen at 1.0570 and 1.06 levels.