FXStreet (Mumbai) – The EUR/USD pair extended the weakness to hit a fresh session low of 1.0843 as the bid tone on the USD strengthened further ahead of the data thin US session.
EUR/USD: Pressuring into 61.8% Fib support
The pair now trades at 1.0844, which is the 61.8% Fib retracement level of the move from 1.0461 to 1.1465. The pair breached the 50% retracement level of 1.0963 in the previous session on the back of encouraging US durable goods report.
The early strength in the EUR witnessed today failed to last long as the USD bulls made a comeback on Greece issue and interest rate outlook. Ahead in the day, the bid tone on the USD may persist in the absence of a major market moving data in the US.
EUR/USD Technical Levels
The pair could dip to the immediate support at 1.08 in case it fails to rise above 1.0844. On the other hand, immediate resistance is seen at 1.0897 and 1.0930 levels.
(Market News Provided by FXstreet)