16 Jan 2015
EUR/USD hits fresh 11-year low
FXStreet (Córdoba) - The euro extended losses to fresh 11-year lows versus the dollar Friday, as increasing bets the ECB will announce a QE program and decent US data, put the pair under renewed pressure.
EUR/USD broke below the 1.16 mark and fell to 1.1512, its lowest level since November 2003, as the dollar was boosted by a jump in consumer confidence. The Reuters/Michigan consumer sentiment index rose to 98.2 in January, reaching its highest level since 2004.
The so-called "SNB shoker" Thursday weighed heavily on the shared currency, as investors speculate SNB Jordan decision was a defensive move ahead of the European Central Bank meeting next week.
EUR/USD levels to watch
EUR/USD is currently trading at the 1.1530 zone, with 1.1500 (psychological level) as immediate target on the downside, followed by 1.1443 (Nov 11 2003 low). On the other hand, resistances could be found at 1.1600 (psychological level) and 1.1648 (daily high).
EUR/USD broke below the 1.16 mark and fell to 1.1512, its lowest level since November 2003, as the dollar was boosted by a jump in consumer confidence. The Reuters/Michigan consumer sentiment index rose to 98.2 in January, reaching its highest level since 2004.
The so-called "SNB shoker" Thursday weighed heavily on the shared currency, as investors speculate SNB Jordan decision was a defensive move ahead of the European Central Bank meeting next week.
EUR/USD levels to watch
EUR/USD is currently trading at the 1.1530 zone, with 1.1500 (psychological level) as immediate target on the downside, followed by 1.1443 (Nov 11 2003 low). On the other hand, resistances could be found at 1.1600 (psychological level) and 1.1648 (daily high).