16 Jun 2015
EUR/USD pushed back below 1.13 by bond yield spread
FXStreet (Mumbai) - The EUR/USD pair was ditched at the session high of 1.1328 on an unfavorable benchmark bond yield spread, thereby pushing it back below 1.13 levels.
US-German yield spread widens
The benchmark 10-year US-German bond yield spread widened to 154-155 basis points in the early European session today, compared to 150-152 basis points seen on Monday. Consequently, the common currency was offered the session highs.
At the moment, the pair is trading in the band of 1.13-1.1290. Investors now await the Eurozone and German Zew survey data. Meanwhile, movement in the EUR/GBP cross post UK CPI data may also affect the EUR/USD pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1328, above which the pair could target 1.1384 (June. 10 high). On the flip side, a break below 1.1293 (23.6% Fib R of 1.3991-1.0461) could push the pair lower to 1.1228 (23.6% Fib R of 1.0461-1.1465).
US-German yield spread widens
The benchmark 10-year US-German bond yield spread widened to 154-155 basis points in the early European session today, compared to 150-152 basis points seen on Monday. Consequently, the common currency was offered the session highs.
At the moment, the pair is trading in the band of 1.13-1.1290. Investors now await the Eurozone and German Zew survey data. Meanwhile, movement in the EUR/GBP cross post UK CPI data may also affect the EUR/USD pair.
EUR/USD Technical Levels
The immediate resistance is seen at 1.1328, above which the pair could target 1.1384 (June. 10 high). On the flip side, a break below 1.1293 (23.6% Fib R of 1.3991-1.0461) could push the pair lower to 1.1228 (23.6% Fib R of 1.0461-1.1465).