EUR/USD Attempting Gains Above 1.13, Eyes Fed Speak
EUR keeps its bid tone intact in the US session, with the EUR/USD pair now looking to extend gains above 1.13 handle ahead of speeches from Fed’s Dudley and Rosengren.
Supported by 1.1274
The
spot found bids around 1.1274 amid oil driven weakness in the equities
and thus turned positive to trade around 1.1327 levels. The immediate
focus is on comments from William Dudley. It will be followed by
Rosengren’s speech later today.
In the meantime, demand for EUR
and other funding currencies also depend on the action in the US
equities. Major index futures are pointing to a weak opening, which is
keeping the bid tone around EUR intact.
EUR/USD Technical Levels
The
immediate resistance is seen at 1.1327 (Apr 6 low), above which prices
could target 1.1372 (Apr 11 low). On the other hand, a failure to remain
above 1.13 would open doors for a re-test of 1.1274 (daily low).
