EUR/USD weighed by ECB story

By FXstreet.com | June 26, 2014 AAA

FXStreet (Córdoba) - The EUR/USD broke below the 1.3600 mark and accelerated to fresh 3-day lows at the beginning of the American session, weighed by a story suggesting the ECB may not have reached lower bound on rates.



The EUR/USD fell to a fresh low of 1.3575 after MNI reported the ECB could cut rates further although it would take 6 to 9 months to assess impact of June moves, according to senior “Eurosytem” sources. At time of writing, the EUR/USD is trading at 1.3585, recording a 0.31% loss on the day.



EUR/USD levels to watch



In terms of technical levels, the EUR/USD could face next supports at 1.3573 (Jun 23 low/10-day SMA),1.3563 (Jun 20 low) and 1.3540 (Jun 18 low). On the other hand, resistances are seen at 1.3650 (Jun 25 high), 1.3669 (200-day SMA) and 1.3668 (Jun 9 high).



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