6 Mar 2015
EUR/USD keeps falling, eyes 1.0930
FXStreet (Edinburgh) - The common currency is now accelerating its downside vs. the US dollar, sending EUR/USD to fresh lows in the vicinity of 1.0930.
EUR/USD weaker pre-Payrolls
Spot is trading in levels last seen in September 2003 around 1.0930, in a context where the greenback keeps pushing higher and is already navigating in multi-year peaks in terms of the US Dollar Index (DXY).
Positive data from German Industrial Production this early morning, higher forecasts for the economic growth in the euro area published by the ECB yesterday and the generalized optimism from Draghi on Thursday have done little to nothing to curb the selling interest around EUR. The door remains wide open for further and deeper pullbacks in the pair, even in the case of a disappointment in today’s US Payrolls.
EUR/USD relevant levels
As of writing the pair is retreating 0.73% at 1.0946 facing the next support at 1.0914 (low Sep.5 2003) ahead of 1.0900 (psychological level) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1111 (high Mar.5) would open the door to 1.1218 (high Mar.3) and then 1.1245 (high Feb.27).
EUR/USD weaker pre-Payrolls
Spot is trading in levels last seen in September 2003 around 1.0930, in a context where the greenback keeps pushing higher and is already navigating in multi-year peaks in terms of the US Dollar Index (DXY).
Positive data from German Industrial Production this early morning, higher forecasts for the economic growth in the euro area published by the ECB yesterday and the generalized optimism from Draghi on Thursday have done little to nothing to curb the selling interest around EUR. The door remains wide open for further and deeper pullbacks in the pair, even in the case of a disappointment in today’s US Payrolls.
EUR/USD relevant levels
As of writing the pair is retreating 0.73% at 1.0946 facing the next support at 1.0914 (low Sep.5 2003) ahead of 1.0900 (psychological level) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1111 (high Mar.5) would open the door to 1.1218 (high Mar.3) and then 1.1245 (high Feb.27).