FXStreet (Mumbai) – The EUR/USD pair fell back closer to 1.09 levels as the EUR was offered at the session high of 1.0927 levels.
EUR struggles to extend gains
It appears the bid tone on the shared currency is not strong enough to ensure the EUR/USD pair remained above 1.0920 levels. Moreover, the fresh bids on the back of a better-than-expected German consumer confidence exhausted after the French consumer confidence fell to 93.00 in May Vs. expectation of 95.00.
Ahead in the day, the dollar bulls face an empty data calendar in the US. Consequently, technical traders may find an upper hand and lead to a correction in the pair. However, the Greek debt drama could ensure pair meets fresh offers at regular intervals.
EUR/USD Technical Levels
The pair currently trades at 1.0906. The immediate resistance is located at 1.0963, above which the pair could test 1.10 levels. On the flip side, a break below 1.09 could see the pair re-test the daily low of 1.0862.
(Market News Provided by FXstreet)