Filed Under:
Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD resumed the downside following a short-lived bounce, and recently broke below the 1.3000 mark, triggering stops.

EUR/USD weighed by dovish ECB

After being rejected by the 1.3055 area on the latest bounce, EUR/USD came under renewed pressure and broke below the 1.3000 level to hit its lowest in 3 weeks weighed by dovish comments from ECB officials, reassuring that the bank stands ready to act (Draghi, Asmussen and Noyer).

EUR/USD is currently trading at the 1.2990 area, 0.6% below its opening price, having hit a low of 1.2984 so far. As for technical levels, EUR/USD could face next support area at 1.2940 (76.4% retracement of the broader 1.2796/1.3415 rally), followed by the 1.2900 zone. On the other hand, bounces should find resistance at 1.3055 (intraday resistance) and 1.3070 (where the 100- and 200-day SMA's converge).
comments powered by Disqus