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Forex pairs in this Article » EUR/USD
FXstreet.com (New York) - The EUR/USD technical pair has been unable to regain the 1.3000 level during Asian trading following an earlier plunge below this key psychological barrier.

EUR/USD pressure generates from usual Eurozone suspects

The Euro faced uphill sledding yesterday, following the upheaval across peripheral Europe, i.e. the domestic facelift of Portugal’s finance minister, coupled with the cessation of IMF payments en route to Greece. These stimuli, coupled with a general USD resurgence, weighed heavily on the EUR/USD.

EUR/USD 1.3000 barrier too tough to summit

In these moments, the EUR/USD is incurring a minor loss of -0.02%, however it remains below several formerly broken supports, lending weakness to the pair – at this juncture the pair is settling at 1.2975 at the time of writing.

“Trading at fresh 4-week lows, the EUR/USD has reached a recent depth of 1.2962 (yesterdays low), with strong bearish momentum in the hourly chart that supports further slides ahead: the 1.2940/50 area has probe strong in the past, so some buying interest could surge on approaches to it.” notes Valeria Bednarik an analyst at FXstreet.com.
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