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

Related Forex Analysis
  1. Forex News

    Euro Flounders at Yearly Lows as Likelihood of ECB QE Increases

  2. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  3. Forex News

    US session recap: USD index and stocks rally for record highs

  4. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  5. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

Trading Center