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11 Mar 2015
EUR/USD pullback tests 1.0560
FXStreet (Edinburgh) - The common currency keeps falling almost uninterruptedly vs. the US dollar on Wednesday, with EUR/USD looking to regain some pips after fresh lows at 1.0560.
EUR/USD in fresh 12-year lows
The trend lower in yields from the European debt markets following the kick off of the ECB’s quantitative easing programme on Monday keeps taking a toll on the EUR, relegating spot to trade in levels last seen in March/Apil 2003.
In addition, the upbeat tone in the greenback keeps exerting the usual selling pressure in the pair, with the US Dollar Index trading in levels last seen in September 2003.
EUR/USD relevant levels
As of writing the pair is losing 1.14% at 1.0576 and a breakdown of 1.0502 (low Mar. 21 2003) would target 1.0335 (2003 low. Jan.2) en route to 1.0207 (low Dec.19 2002). On the flip side, the initial hurdle lines up at 1.0719 (hourly high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9).
EUR/USD in fresh 12-year lows
The trend lower in yields from the European debt markets following the kick off of the ECB’s quantitative easing programme on Monday keeps taking a toll on the EUR, relegating spot to trade in levels last seen in March/Apil 2003.
In addition, the upbeat tone in the greenback keeps exerting the usual selling pressure in the pair, with the US Dollar Index trading in levels last seen in September 2003.
EUR/USD relevant levels
As of writing the pair is losing 1.14% at 1.0576 and a breakdown of 1.0502 (low Mar. 21 2003) would target 1.0335 (2003 low. Jan.2) en route to 1.0207 (low Dec.19 2002). On the flip side, the initial hurdle lines up at 1.0719 (hourly high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9).