16 Jan 2015
EUR/USD breaks below 1.16 mark
FXStreet (Mumbai) - EUR/USD dropped to fresh daily lows in the mid-European session, breaking below the 1.16 mark as slackening inflation print in the EMU bolstered the case for European Central Bank’s (ECB) additional stimulus measures.
Currently, the EUR/USD traded at 1.1607, down -0.21 on the day, retracing from fresh daily lows of 1.1595 levels hit few minutes ago. The EUR/USD headed towards fresh multi-year lows reached yesterday amid growing speculations that the ECB may go in for a bigger than expected QE program after faltering growth and muted price pressures in the Euro zone economies.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1732 (5-DMA) levels, above which gains could be extended to 1.1789 (10-DMA) levels. On the flip side, support is seen at 1.1567 levels, below which it could extend losses to 1.1500 levels.
Currently, the EUR/USD traded at 1.1607, down -0.21 on the day, retracing from fresh daily lows of 1.1595 levels hit few minutes ago. The EUR/USD headed towards fresh multi-year lows reached yesterday amid growing speculations that the ECB may go in for a bigger than expected QE program after faltering growth and muted price pressures in the Euro zone economies.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1732 (5-DMA) levels, above which gains could be extended to 1.1789 (10-DMA) levels. On the flip side, support is seen at 1.1567 levels, below which it could extend losses to 1.1500 levels.