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.



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD climbs back above 1.2600
    Forex News

    EUR/USD climbs back above 1.2600

  2. Dollar Charges to Multi Week Highs on Strong US GDP Data
    Forex News

    Dollar Charges to Multi Week Highs on Strong US GDP Data

  3. EUR/USD keeps the range post-US data
    Forex News

    EUR/USD keeps the range post-US data

  4. Ranges Persist in USD-Pairs Post-FOMC Meeting
    Forex News

    Ranges Persist in USD-Pairs Post-FOMC Meeting

  5. EUR/USD trading close to 1.2580 - FXStreet
    Forex News

    EUR/USD trading close to 1.2580 - FXStreet

Trading Center