FXStreet (Mumbai) – The shared currency extends losses versus the American dollar in the European session, with EUR/USD trading in red below 1.13 handle. The major remains undermined mainly due to falling German bund yields while impending Greece debt negotiation continue to hamper market sentiments.
EUR/USD remains below 1.1300
The EUR/USD pair trades -0.17% lower at 1.1270, heading towards session lows at 1.1257. The EUR/USD pair fell further in to losses as the German yields fall on profit-taking after the recent rally. The 10-year yields on German bonds trades -0.70% lower at 0.884%.
Moreover, the main currency pair accelerated losses after fresh buying interest was witnessed in the US dollar against its major competitors driving the DXY higher to the tune of 0.14% to trade at 95.35.
Meanwhile, the pair ignored in line with estimates Euro zone Q1 GDP print as markets now focus on US JOLTS openings data for further momentum.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1300 levels, above which gains could be extended to 1.1344 (Today’s High) levels. On the flip side, support is seen at 1.1257 (Today’s Low) below which it could extend losses to 1.1200 levels.
(Market News Provided by FXstreet)