FXStreet (Edinburgh) - The single currency is now intensifying its descent, dragging the EUR/USD to post session lows in the 1.3560 region.
EUR/USD in 3-day lows
The pair is now testing multi-day lows around 1.3565/60, levels last seen post-ECB easing announcements last Thursday. The backdrop of historically low volatility plus almost non-existent docket in the euro area leaves spot vulnerable to the risk appetite trends. “While the daily chart is suggesting that we should allow for a corrective rebound to circa 1.3775, the intraday charts are more neutral to negative. They indicate that intraday rallies are likely to terminate circa 1.3615”.
EUR/USD levels to watch
The pair is now losing 0.23% at 1.3562 with the next support at 1.3503 (low Jun.5) followed by 1.3482 (low Feb.6) and finally 1.3477 (2014 low Feb.30). On the flip side, a breakout of 1.3602 (high Jun.10) would open the door to 1.3649 (21-d MA) and then 1.3656 (200-d MA).