EUR/USD accelerates lower

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The EUR/USD extended losses to fresh daily lows as risk aversion picks up, with European stocks getting crushed and gold soaring to 4-month highs.



The EUR/USD came under renewed pressure and fell to a low of 1.3622 after being rejected by the 1.3650 resistance zone. The shared currency was also weighed by a poor run of European industrial production data. At time of writing, the EUR/USD is trading at 1.3625, recording a 0.11% loss on the day.



EUR/USD levels to watch



In terms of technical levels, immediate supports line up at 1.3602/00 (Jul 9 low/psychological level), 1.3587 (Jul 8 low), 1.3575 (Jul 7 low). On the flip side, resistances could be found at 1.3650 (Jul 10 high), 1.3675 (200-day SMA) and 1.3700 (psychological level).



You May Also Like

Related Forex Analysis
  1. Fed and ECB to go separate ways - Commerzbank
    Forex News

    Fed and ECB to go separate ways - Commerzbank

  2. EUR/USD extends gains after Weidmann’s comments
    Forex News

    EUR/USD extends gains after Weidmann’s comments

  3. US Dollar Faces Tough Test, Japanese Yen Remains Focus
    Forex News

    US Dollar Faces Tough Test, Japanese Yen Remains Focus

  4. EUR/USD pushing higher, 1.2430
    Forex News

    EUR/USD pushing higher, 1.2430

  5. WTI Crude declines 0.60%
    Forex News

    WTI Crude declines 0.60%

Trading Center