EUR/USD rose briefly above the 1.1400 level and reached its highest level in 5 days as disappointing US durable goods orders added pressure on an already weakened greenback.
The US dollar is among the worst performers on Tuesday as growing speculations the Fed might pull back expectations of a rate hike when it concludes its 2-day policy meeting tomorrow, has weighed on the currency.
EUR/USD climbed to a peak of 1.1422 as the shared currency remains in recovery mode despite Greek political uncertainties. However, the pair failed to hold above 1.14 for long and pulled back to currently trade at 1.1370, still up 1.18% on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above 1.1422, next resistances are seen at 1.1474 (200-hour SMA) and 1.1500 (psychological level). On the flip side, supports could be found at 1.1223 (daily low) and 1.1200 (psychological level) ahead of 1.1097 (11-year low Jan 26).
The US dollar is among the worst performers on Tuesday as growing speculations the Fed might pull back expectations of a rate hike when it concludes its 2-day policy meeting tomorrow, has weighed on the currency.
EUR/USD climbed to a peak of 1.1422 as the shared currency remains in recovery mode despite Greek political uncertainties. However, the pair failed to hold above 1.14 for long and pulled back to currently trade at 1.1370, still up 1.18% on the day.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks above 1.1422, next resistances are seen at 1.1474 (200-hour SMA) and 1.1500 (psychological level). On the flip side, supports could be found at 1.1223 (daily low) and 1.1200 (psychological level) ahead of 1.1097 (11-year low Jan 26).
