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Forex pairs in this Article » EUR/USD (Edinburgh) -The selling pressure surrounding the EUR/USD is now gathering steam, dragging the EUR to fresh weekly lows around 1.3465/60 against the greenback.

EUR/USD lower on Coeure comments

ECB’s B.Coeure stressed that the ECB keeps the discussion regarding liquidity conditions open, and also said the central bank has not mentioned any specific instrument amidst ongoing market chatter about the imminence (or not) of another LTRO. In the same tone, Coeure remarked that the current forward guidance is playing a key role for the ECB. Analysts at TD Securities commented, “On balance central bank comments could see the pair make new lows intraday, but there are a number of short term supports just below spot in the mid-1.34 area (1.3460 is trend support and 1.3425/40 marks the August highs and a noted gap). For now we may be confined to a range until we get further clarity on the ECB and the Fed outlook”.

EUR/USD key levels

At the moment the pair is losing 0.18% at 1.3468 and a breakdown of 1.3453 (high Aug.20) would target 1.3399 (high Aug.28) en route to 1.3385 (high sep.16). On the other hand, the initial hurdle aligns at 1.3525 (hourly cloud top) followed by 1.3555 (high Sep.23) and finally 1.3569 (high Sep.19).
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