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15 May 2014
EUR/USD dips to lows near 1.3680
FXStreet (Edinburgh) - The single currency is now rapidly depreciating against the greenback, with the EUR/USD visiting multi-week lows in the 1.3685/80 band.
EUR/USD in 6-week lows
The pair remains on the defensive camp on Thursday after the opening bell in London, intensifying the decline from last week’s ytd peaks near 1.4000 the figure to current levels near 1.3680. The selling mood amidst potential easing measures by the ECB in its June meeting continues to be the leitmotif amongst traders in the second half of the week so far. “The quiet trading yesterday has resulted in a mixed intraday outlook. However, the resistance highlighted at 1.3750/55 yesterday is still acting as short-term key level and as long as this level is intact, a move below the strong support at 1.3690/95 could lead to a quick drop towards 1.3670”.
EUR/USD levels to watch
As of writing the pair is losing 0.17% at 1.3690 facing the next support at 1.3672 (low Apr.4) ahead of 1.3643 (low Feb.27) and finally 1.3625 (50% of 1.3477-1.3773). On the upside, a break above 1.3731 (high May 15) would aim for 1.3741 (100-d MA) and then 1.3771 (high May 13).
EUR/USD in 6-week lows
The pair remains on the defensive camp on Thursday after the opening bell in London, intensifying the decline from last week’s ytd peaks near 1.4000 the figure to current levels near 1.3680. The selling mood amidst potential easing measures by the ECB in its June meeting continues to be the leitmotif amongst traders in the second half of the week so far. “The quiet trading yesterday has resulted in a mixed intraday outlook. However, the resistance highlighted at 1.3750/55 yesterday is still acting as short-term key level and as long as this level is intact, a move below the strong support at 1.3690/95 could lead to a quick drop towards 1.3670”.
EUR/USD levels to watch
As of writing the pair is losing 0.17% at 1.3690 facing the next support at 1.3672 (low Apr.4) ahead of 1.3643 (low Feb.27) and finally 1.3625 (50% of 1.3477-1.3773). On the upside, a break above 1.3731 (high May 15) would aim for 1.3741 (100-d MA) and then 1.3771 (high May 13).