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26 Jan 2015
EUR/USD on its way to retest 1.1200
FXStreet (Mumbai) - The Euro remains in red against US dollar, having recouped most of its slide after falling to fresh twelve year lows at 1.1099 levels in the early Asian morning after radical left-wing Syriza secured a decisive victory in the Greek parliamentary elections.
The EUR/USD heads towards a retest of 1.1200 levels and trades now at 1.1196 levels, almost flat on the day. However, the downtrend in the EUR/USD pair remains intact as markets remain on the edge as they watch closely the New Greek government’s negotiations with Euro zone officials which may trigger a possible Greek exit from the Euro area.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1202 (Today’s High) levels, above which gains could be extended to 1.1250 levels. On the flip side, support is seen at 1.1139 levels, below which it could extend losses to 1.1100
The EUR/USD heads towards a retest of 1.1200 levels and trades now at 1.1196 levels, almost flat on the day. However, the downtrend in the EUR/USD pair remains intact as markets remain on the edge as they watch closely the New Greek government’s negotiations with Euro zone officials which may trigger a possible Greek exit from the Euro area.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1202 (Today’s High) levels, above which gains could be extended to 1.1250 levels. On the flip side, support is seen at 1.1139 levels, below which it could extend losses to 1.1100