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9 Jun 2014
EUR/USD drops below 1.3600
FXStreet (Córdoba) - The EUR/USD extended its pullback below the 1.3600 mark ahead of the Wall Street opening as investors continue to assess European Central Bank aggressive moves.
The EUR/USD was firmly rejected from a daily high of 1.3668 and took an U-turn, falling back below 1.3600 in recent dealings despite the slightly positive sentiment in financial markets, with European markets broadly firmer. the EUR/USD triggered stops below 1.3600 and accelerated toward a low of 1.3582 in recent dealings.
With many European countries on Whit Monday and the calendar pretty much empty for the rest of the day, the EUR/USD might follow the lead of equity markets. At time of writing, the EUR/USD is trading at 1.3585, recording a 0.42% loss on the day.
EUR/USD levels to watch
In terms of technical levels, next supports for EUR/USD are seen at 1.3582 (Jun 9 low), 1.3561 (Feb 12 low) and 1.3500 (Jun 6 low). On the other hand, resistances are seen at 1.3668 (Jun 9 high), 1.3676 (Jun 6 high) and 1.3700 (psychological level).
The EUR/USD was firmly rejected from a daily high of 1.3668 and took an U-turn, falling back below 1.3600 in recent dealings despite the slightly positive sentiment in financial markets, with European markets broadly firmer. the EUR/USD triggered stops below 1.3600 and accelerated toward a low of 1.3582 in recent dealings.
With many European countries on Whit Monday and the calendar pretty much empty for the rest of the day, the EUR/USD might follow the lead of equity markets. At time of writing, the EUR/USD is trading at 1.3585, recording a 0.42% loss on the day.
EUR/USD levels to watch
In terms of technical levels, next supports for EUR/USD are seen at 1.3582 (Jun 9 low), 1.3561 (Feb 12 low) and 1.3500 (Jun 6 low). On the other hand, resistances are seen at 1.3668 (Jun 9 high), 1.3676 (Jun 6 high) and 1.3700 (psychological level).