EUR/USD holds near Monday’s lows

By FXstreet.com | 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.



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