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15 May 2013
Forex: EUR/USD in lows around 1.2880
FXstreet.com (Barcelona) - The selling interest in the single currency is now dragging the cross to the area of 1.2880 and printing fresh multi-week lows at the same time as the greenback continues its march north.
“Euro weakness against the US dollar is proving more gradual although could accelerate in the near-term if key support is broken at around the 1.2800-level”, suggested Lee Hardman, Currency Analyst at BTMU.
As of writing, the pair is down 0.32% at 1.2878 with the next support at 1.2864 (76.4% of 1.2747-1.3243) followed by 1.2747 (low Apr.4) and then 1.2679 (61.8% of 1.2042-1.3711).
On the flip side, a surpass of 1.2943 (high May 15) would allow 1.3030 (high May 14) and finally 1.3048 (MA21d).
“Euro weakness against the US dollar is proving more gradual although could accelerate in the near-term if key support is broken at around the 1.2800-level”, suggested Lee Hardman, Currency Analyst at BTMU.
As of writing, the pair is down 0.32% at 1.2878 with the next support at 1.2864 (76.4% of 1.2747-1.3243) followed by 1.2747 (low Apr.4) and then 1.2679 (61.8% of 1.2042-1.3711).
On the flip side, a surpass of 1.2943 (high May 15) would allow 1.3030 (high May 14) and finally 1.3048 (MA21d).