Forex: EUR/USD heading to 1.2300 ground
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EUR/USD
FXstreet.com (Barcelona) - The EURUSD was consolidating at 1.2340 area after being in constant decline since the release of Chinese data and the BoJ policy meeting, from 1.2387 high in the Asian session. The pair sharpened the fall after the ECB's Monthly Report and only now, after being relatively steady around 1.2340, the market breached below yesterday's low, 1.2327.
ECB's Noyer is preparing the market for a very quick action by the central bank when needed, prioritizing the short-term bond market and always within its mandate that includes watching over the Eurozone's solidity. In his comments, reported by "Le Point", Noyer said the intervention has to make a strong impact on the market.
The Greek unemployment rate rose to 23.1% in May. Meanwhile, the decision regarding financial aid to Greece was delayed to October.
The EURUSD is at a fall, printing new lows this week, now at 1.2308. "We suspect that the move higher has terminated ahead of the 2 month channel resistance at 1.2500", wrote Commerzbank analyst Karen Jones.
ECB's Noyer is preparing the market for a very quick action by the central bank when needed, prioritizing the short-term bond market and always within its mandate that includes watching over the Eurozone's solidity. In his comments, reported by "Le Point", Noyer said the intervention has to make a strong impact on the market.
The Greek unemployment rate rose to 23.1% in May. Meanwhile, the decision regarding financial aid to Greece was delayed to October.
The EURUSD is at a fall, printing new lows this week, now at 1.2308. "We suspect that the move higher has terminated ahead of the 2 month channel resistance at 1.2500", wrote Commerzbank analyst Karen Jones.
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