Filed Under:
Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD managed to recover slightly after hitting a fresh 2-week low during the European session as weak inflation data fueled expectations the ECB could loose its policy further.

The EUR/USD extended losses into a fifth consecutive day Friday and touched a low of 1.3507 during the European session. However, the euro has managed to hold above 1.3500 and trimmed a slight part of recent losses. At time of writing, EUR/USD is trading at the 1.3525 area, still 0.4% below its opening price. During the New York session, watch for October manufacturing PMI's from ISM and Markit.

EUR/USD technical outlook

"Yesterday's break through 1.3700 support zone unleashed a severe downtrend, which is still intact, heading towards 1.3450 area", said Stoyan Mihaylov, analyst at "Initial resistance is projected at 1.3575, followed by the crucial 1.3690".
comments powered by Disqus