Monday, September 14, 2015

EUR/USD at fresh session high, Euro Stoxx 50 trades in red

FXStreet (Mumbai) - The bid tone on the EUR/USD pair strengthened further in early European session as Euro Stoxx 50 futures indicate a moderate risk aversion in the equities.

Seventh straight session of gains?

The spot is up for the seventh consecutive session, although it remains to be seen if the bid tone remains intact till NY closing. Euro rallied last week as Asian, European and US equity markets took turns to keep the demand for safe haven and/or funding currencies intact.

Earlier today, the spot found support from the weakness in the Chinese and Japanese equity markets. At the moment, the pan-European Euro Stoxx 50 futures indicate the stocks are likely to open slightly lower. Apart from the equity markets, the investors would also keep an eye on the Eurozone industrial production figures.

EUR/USD Technical Levels

The spot clocked a fresh session high of 1.1368. The immediate resistance is located at 1.14, ahead of a major hurdle located at 1.1436 (June 18 high). On the other side, support is seen at 1.1323 (daily low) and 1.1254 (Friday’s low).
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