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26 Feb 2015
EUR/USD breaches 1.1200
FXStreet (Edinburgh) - Buyers seem to have left the building now, as EUR/USD is extending the decline below the critical support at 1.1200.
EUR/USD in fresh multi-week lows
The offered tone is growing bigger around the European currency towards the end of the week, confining spot to levels last traded in late January below 1.1200 the figure. A solid performance from the US dollar following today’s US inflation figures and Durable Goods Orders is taking a toll on the riskier assets, leaving the door wide open for a deeper pullback.
EUR/USD levels to consider
As of writing the pair is losing 1.55% at 1.1187 with the next support at 1.1100 (psychological level) ahead of 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003). On the flip side, a break above 1.1359 (21-d MA) would aim for 1.1375 (Kijun Sen) and finally1.1390 (high Feb.25).
EUR/USD in fresh multi-week lows
The offered tone is growing bigger around the European currency towards the end of the week, confining spot to levels last traded in late January below 1.1200 the figure. A solid performance from the US dollar following today’s US inflation figures and Durable Goods Orders is taking a toll on the riskier assets, leaving the door wide open for a deeper pullback.
EUR/USD levels to consider
As of writing the pair is losing 1.55% at 1.1187 with the next support at 1.1100 (psychological level) ahead of 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003). On the flip side, a break above 1.1359 (21-d MA) would aim for 1.1375 (Kijun Sen) and finally1.1390 (high Feb.25).