EUR/USD prints session high of 1.0971

May 29, 2015

The EUR/USD pair is struggling to extend gains as the pair retreated from the high of 1.0971 to 1.0960 levels. 

EUR/USD: Once again offered above 1.0963

The pair ran into offers for the third time since the Asian session above 1.0963, which is the 505 Fib retracement of 1.0461-1.1465. The EMU data – M3 money supply, Italian GDP failed to have a significant impact on the EUR/USD pair. 

Ahead in the day, the second estimate of the US first quarter GDP ( Exp: -0.9%) could trigger moves in the pair. 

EUR/USD Technical Levels

The pair currently trades at 1.0957 with the immediate resistance is seen at 1.1063, above which the pair could target 1.1020 (100-DMA). On the downside, a break below 1.0924 could see the pair target 1.0885. 

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