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27 Mar 2014
EUR/USD dips below 1.3760
FXStreet (Edinburgh) - The selling pressure around the single currency is now gathering pace, quickly dragging the EUR/USD back to session lows in sub-1.3760 levels.
EUR/USD eyes on 1.3750
The pair is losing ground for the third consecutive week so far, correction lower from ytd peaks near 1.3970 posted in mid-March. Rumours regarding the likeliness of further easing by the ECB in its next meeting have been hovering over the markets as of late and weighing on EUR sentiment. Collaborating with the downside, there were ECB’s officials citing negative rates and even some QE ‘a la Fed’, all hurting the shared currency. Data-wise, EMU’s M3 Money Supply and Private Loans are due later
EUR/USD important levels
As of writing the pair is losing 0.17% en 1.3755 and a breakdown of 1.3749 (low Mar.25) would expose 1.3722 (50% of 1.3477-1.3967) and then 1.37200 (low Mar.6). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).
EUR/USD eyes on 1.3750
The pair is losing ground for the third consecutive week so far, correction lower from ytd peaks near 1.3970 posted in mid-March. Rumours regarding the likeliness of further easing by the ECB in its next meeting have been hovering over the markets as of late and weighing on EUR sentiment. Collaborating with the downside, there were ECB’s officials citing negative rates and even some QE ‘a la Fed’, all hurting the shared currency. Data-wise, EMU’s M3 Money Supply and Private Loans are due later
EUR/USD important levels
As of writing the pair is losing 0.17% en 1.3755 and a breakdown of 1.3749 (low Mar.25) would expose 1.3722 (50% of 1.3477-1.3967) and then 1.37200 (low Mar.6). On the flip side, the initial hurdle aligns at 1.3825 (21-d MA) followed by 1.3827 (high Mar.26) and finally 1.3848 (high Mar.25).