Forex: EUR/USD retesting 1.25 on ECB's Nowotny remarks
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The Euro has regained its bearish tone ahead of the London session following comments from ECB's Nowotny, who stated Euro-Zone outlook appears to be worsening and that growth differences are likely to get wider between core and peripheries.
The EURUSD has come down to test 1.2498 on the news, day lows so far, after it found stiff resistance at the 1.2520 handle in Asian trading. "Buy orders seen clustered 1.2480/90, sell stops below there before more buy orders clustered 1.2445/55" notes Gerry Davies, analyst at Forexlive.
On a more mid-term perspective, according to Richard Lee, independent analyst at FXstreet.com: "Resistance via the 1.2575 figure continues to weigh on EURUSD, making it likely that the next move will be lower for the single currency. The notion will place emphasis on the 1.2400 support figure in the short term. Any upside potential lies in the major's ability to close above 1.2600."
The EURUSD has come down to test 1.2498 on the news, day lows so far, after it found stiff resistance at the 1.2520 handle in Asian trading. "Buy orders seen clustered 1.2480/90, sell stops below there before more buy orders clustered 1.2445/55" notes Gerry Davies, analyst at Forexlive.
On a more mid-term perspective, according to Richard Lee, independent analyst at FXstreet.com: "Resistance via the 1.2575 figure continues to weigh on EURUSD, making it likely that the next move will be lower for the single currency. The notion will place emphasis on the 1.2400 support figure in the short term. Any upside potential lies in the major's ability to close above 1.2600."
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