24 Mar 2015
EUR/USD drops below 1.0900
FXStreet (Edinburgh) - The European currency is now extending its correction lower, pushing EUR/USD to session lows in sub-1.0900 levels.
EUR/USD weaker on US data
The pair saw its upside trimmed from beyond the 1.1000 handle after US data releases surprised investors to the upside, giving extra oxygen to the beleaguered greenback.
The pair is now trading back below the 1.0900 mark following better-than-expected prints from US CPI, New Home Sales and Markit’s manufacturing PMI, shrugging off previous auspicious readings from manufacturing and services PMIs in Euroland for the current month.
EUR/USD important levels
The pair is now losing 0.33% at 1.0908 and a break below 1.0891 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).
EUR/USD weaker on US data
The pair saw its upside trimmed from beyond the 1.1000 handle after US data releases surprised investors to the upside, giving extra oxygen to the beleaguered greenback.
The pair is now trading back below the 1.0900 mark following better-than-expected prints from US CPI, New Home Sales and Markit’s manufacturing PMI, shrugging off previous auspicious readings from manufacturing and services PMIs in Euroland for the current month.
EUR/USD important levels
The pair is now losing 0.33% at 1.0908 and a break below 1.0891 (low Mar.24) would open the door to 1.0780 (100-h MA) and then 1.0768 (hourly low Mar.23). On the other hand, the immediate hurdle lines up at 1.1062 (high Mar.18) ahead of 1.1115 (high Mar.5) and then 1.1123 (61.8% of 1.1534-1.0457).