Forex: EUR/USD plummets to 1.2535 zone
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The bloc currency has dropped to the 1.2535 region after Chancellor Merkel's adviser assessed that unlimited bond purchases by the ECB would go against the central bank's mandate.
Recall that the cross hit 1.2564 ealier, helped by lower yields in the 5-yr and 10-yr bond yields, although the auction was below the initial target.
The cross is up 0.07% at 1.2541 as of writing, with the next resistance at 1.2574 (high Aug.29) ahead of 1.2577 (high Aug.28) then 1.2581 (high Aug.24) and 1.2590 (high Aug.23).
On the other hand, a dip below 1.2524 (low Aug.30) would bring 1.2518 (low Aug.29) then 1.2500 (psychological level) and 1.2488 (MA10d).
Recall that the cross hit 1.2564 ealier, helped by lower yields in the 5-yr and 10-yr bond yields, although the auction was below the initial target.
The cross is up 0.07% at 1.2541 as of writing, with the next resistance at 1.2574 (high Aug.29) ahead of 1.2577 (high Aug.28) then 1.2581 (high Aug.24) and 1.2590 (high Aug.23).
On the other hand, a dip below 1.2524 (low Aug.30) would bring 1.2518 (low Aug.29) then 1.2500 (psychological level) and 1.2488 (MA10d).
Free Annual Reports
