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11 Jun 2013
EUR/USD sees quick drop to fresh lows
FXstreet.com (Córdoba) - The EUR/USD saw a quick drop to fresh daily lows at the beginning of the American session as repeated failure to break above 1.3300 put the pair under pressure.
EUR/USD fell over 40 pips within minutes and turned intraday negative for the day as European periphery borrowing costs continue to rise. EUR/USD is currently trading at the 1.3245 zone, having hit a low of 1.3234 in recent dealings.
If EUR/USD breaks below 1.3234, next supports could be found at 1.3200 (psychological level) and 1.3176 (Jun 10 low), while on the other hand, resistances could be faced at the 1.3300/06 area (psychological level/Jun 6 high) and 1.3320 (Feb 25 high).
EUR/USD fell over 40 pips within minutes and turned intraday negative for the day as European periphery borrowing costs continue to rise. EUR/USD is currently trading at the 1.3245 zone, having hit a low of 1.3234 in recent dealings.
If EUR/USD breaks below 1.3234, next supports could be found at 1.3200 (psychological level) and 1.3176 (Jun 10 low), while on the other hand, resistances could be faced at the 1.3300/06 area (psychological level/Jun 6 high) and 1.3320 (Feb 25 high).