FXStreet (Mumbai) – The bid tone in the EUR/USD pair strengthened in the Asian morning, lifting the shared currency to fresh one-week highs beyond 1.13 handle, as the greenback remains pressured following the release of FOMC statement which showed that the Fed remained firm on their position not to change the key rates at the latest two-day meeting.
EUR/USD extends rally towards 1.1400
The EUR/USD pair trades 0.21% higher at 1.1362, retreating from fresh weekly highs reached at 1.1372. The EUR/USD pair remains supported as the US dollar keeps losses versus its major peers after the Fed decision with the FOMC keeping rates unchanged, although maintained its data-dependent approach to allow the recent upbeat momentum to strengthen.
Moreover, inconclusive talks surrounding Greece with lack of progress between Athens and its international creditors fails to restrict the EUR/USD upside as traders remain hopeful on Greece solution ahead of Euro group meeting due later today.
Meanwhile, a raft of US macro releases due later in the session will also keep the traders busy as Greece headlines still remain in the spotlight.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1386 (June 10 High) levels, above which gains could be extended to 1.1447 (May 14 High) levels. On the flip side, support is seen at 1.1297 (May 18 Low) below which it could extend losses to 1.1213 (June 9 Low) levels.
(Market News Provided by FXstreet)