Forex Flash: EUR/USD, consolidative to weaker activity - BBH
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The technical tone in the EURUSD, according to Marc Chandler, Global Head of Currency Strategy, "has been adversely impacted by the euro's cent and a half decline in latter part of last week." While the recovery of $1.2980 to $1.3000 area would ease pressure for a potential fall towards $1.2840 key support, Marc says, "the euro has been turned back three times now since mid-September above $1.31, with recent price action reinforcing the significance of this area" he adds. The BBH FX strategist sees the EURUSD with a consolidative to weaker activity.