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Forex pairs in this Article » EUR/USD (New York) - The EUR/USD foreign exchange rate collapsed earlier during US trading, having lost its grip on the 1.3100 level.

EUR/USD incurs intraweek losses

The EUR/USD initially bottomed out at 1.2991 (intraday low), only to recover the 1.3000 level. Presently, the technical pair is now trading at 1.3014, down -0.19% or off its weekly highs off the 1.3150 level. The analyst team posits supportive structures at 1.2973, ahead of 1.2946.

EUR/USD ends week on bearish note

According to the TD Securities Team, “The EUR/USD price action is ending the week on a bearish note, though it remains to be seen whether the downside can generate significant, additional momentum from here. The convergence of the short, medium and long-term moving averages just below 1.3100 reflects the generally directionless trading in EUR/USD in the past few months – a lot of time spent between 1.2950/1.32 and not that much movement outside of that band.”
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