Forex: EUR/USD extends losses, hits 9-day low

FXstreet.com (Córdoba) - The euro accelerated losses versus the dollar after breaking below the 1.2900 mark, and having dropped nearly 100 pips from NY session highs, it recently hit its lowest since Oct 1 at 1.2861.

The shared-currency came under pressure along with stocks as another wave of risk aversion hit the markets despite slightly positive headlines coming from the eurozone, including talks that Greece might receive its next tranche of aid and reports that EU leaders will endorse idea of Euro zone budget.

EURUSD was last down 0.7% at the 1.2880 zone, having bounced from the 1.2860 area. In terms of technical levels, immediate supports are seen at 1.2860 and 1.2820 (200-day SMA) ahead of 1.2803 (Oct 1 low). On the upside, the 1.2910 area should offer resistance on bounces, followed by 1.2960 and 1.3000.