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9 Apr 2015
EUR/USD keeps… falling
FXStreet (Edinburgh) - The shared currency is losing over 1% vs. the greenback on Thursday, with EUR/USD now gyrating around the 1.0640 area.
EUR/USD in 3-week lows
The pair has given up all the gains from the last two weeks, retreating below the 1.0650 level, last traded on March 19. Spot accelerated its daily decline following the better-than-expected weekly report on the US labour market, with Initial Claims dropping to 281K vs. 285K expected.
In the same direction, IMF’s C.Lagarde argued that the prospects for economic growth in the euro region remain gloomy and the unemployment is stuck at high levels, all adding further selling pressure to the EUR.
EUR/USD levels to consider
The pair is now losing 1.30% at 1.0639 and a breakdown of 1.0613 (low Mar.19) would target 1.0600 (76.4% of 1.0457-1.1062) en route to 1.0580 (low Mar.18). On the upside, the initial hurdle aligns at 1.0788 (hourly high Apr.9) ahead of 1.830 (10-d MA) and finally 1.0888 (high Apr.8).
EUR/USD in 3-week lows
The pair has given up all the gains from the last two weeks, retreating below the 1.0650 level, last traded on March 19. Spot accelerated its daily decline following the better-than-expected weekly report on the US labour market, with Initial Claims dropping to 281K vs. 285K expected.
In the same direction, IMF’s C.Lagarde argued that the prospects for economic growth in the euro region remain gloomy and the unemployment is stuck at high levels, all adding further selling pressure to the EUR.
EUR/USD levels to consider
The pair is now losing 1.30% at 1.0639 and a breakdown of 1.0613 (low Mar.19) would target 1.0600 (76.4% of 1.0457-1.1062) en route to 1.0580 (low Mar.18). On the upside, the initial hurdle aligns at 1.0788 (hourly high Apr.9) ahead of 1.830 (10-d MA) and finally 1.0888 (high Apr.8).