19 Feb 2015
EUR/USD remains in lows near 1.1370
FXStreet (Edinburgh) - The offered tone around the common currency remains intact in the US session on Thursday, with EUR/USD meandering in the lower bound of the range near 1.1370.
EUR/USD weaker on Greece events
The euro accelerated its decline after the German finance minister W.Schauble rejected this afternoon the Greek proposal, considering it insufficient and reigniting at the same time jitters of further confrontation. It is worth noting that before the rejection, the European Commission has welcomed the plan, stating that it could pave the way to euro zone stability (?).
Still in the euro area, the ECB released its ‘accounts’ for the first time following the last meeting in January. The central bank said the decision to adopt a ‘quantitative easing’ programme was split, indicating that some members favoured adding corporate bond purchases to the sovereign bond buying.
EUR/USD significant levels
As of writing the pair is losing 0.24% at 1.1370 and a breach of 1.1355 (low Feb.19) would aim for 1.1351 (21-d MA) and then 1.1320 (low Feb.16). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).
EUR/USD weaker on Greece events
The euro accelerated its decline after the German finance minister W.Schauble rejected this afternoon the Greek proposal, considering it insufficient and reigniting at the same time jitters of further confrontation. It is worth noting that before the rejection, the European Commission has welcomed the plan, stating that it could pave the way to euro zone stability (?).
Still in the euro area, the ECB released its ‘accounts’ for the first time following the last meeting in January. The central bank said the decision to adopt a ‘quantitative easing’ programme was split, indicating that some members favoured adding corporate bond purchases to the sovereign bond buying.
EUR/USD significant levels
As of writing the pair is losing 0.24% at 1.1370 and a breach of 1.1355 (low Feb.19) would aim for 1.1351 (21-d MA) and then 1.1320 (low Feb.16). On the upside, the initial hurdle lies at 1.1450 (high Feb.17) followed by 1.1486 (high Feb.6) and finally 1.1499 (high Feb.5).