EUR/USD holds near Monday’s lows

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Córdoba) - The EUR/USD started the week moving with a downside bias but managed to hold above last week lows. During the American session the pair bottomed at 1.3351 and then bounced, but the recovery found resistance around 1.3365/70.



EUR/USD starts Monday with a 30-pip decline

During the last hours the pair has remained steady, moving around 1.3360/65, 30 pips below Friday’s closing price



According to Jamie Coleman from FXBeat, a variety of factors weighed on the EUR/USD on Monday. “The downcast view from the Bundesbank earlier in the day along with lower estimates for TLTRO from a variety of analysts today helped undermine the euro. Also weighing was EUR/GBP sales after Carney's abrupt about face on the potential for UK rate hikes. Stronger US NAHB data helped send the euro down in familiar ranges”.



It was the first time since last Tuesday, that the EUR/USD traded during all day below 1.3400.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD keeps the range post-data

  2. Forex News

    EUR/USD has more room to the upside - FXStreet

  3. Forex News

    EUR/USD Technical Analysis: Euro Recovery in the Cards?

  4. Forex News

    Morgan Stanley: EUR/USD might approach parity – eFXnews

  5. Forex News

    EUR/USD spikes to fresh daily highs, 1.1400 in sight

Trading Center