26 Aug 2015
EUR/USD keeps falling, 1.1400 on sight
FXStreet (Edinburgh) - The offered tone around the European currency is rapidly gathering traction on Wednesday, dragging EUR/USD to fresh daily lows in the 1.1400 neighbourhood.
EUR/USD weaker, US data eyed
The daily decline in the pair has picked further pace following the comments by ECB’s P.Praet, who hinted at the likeliness of a second round of ‘quantitative easing’ by the European Central Bank, in light of the persistent low inflation figures in the region and the recent uptick in the exchange rate.
US Durable Goods Orders and the speech by Fed’s William Dudley are next on tap for the pair, albeit their ability to exert a noticeable reaction in the pair remains unclear.
EUR/USD key levels
At the moment the pair is retreating 0.94% at 1.1408 with the next support at 1.1396 (low Aug.25) ahead of the psychological level at 1.1300 and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1562 (high Aug.26) would target 1.1714 (high Aug.24) en route to 1.1786 (high Jan.15).
EUR/USD weaker, US data eyed
The daily decline in the pair has picked further pace following the comments by ECB’s P.Praet, who hinted at the likeliness of a second round of ‘quantitative easing’ by the European Central Bank, in light of the persistent low inflation figures in the region and the recent uptick in the exchange rate.
US Durable Goods Orders and the speech by Fed’s William Dudley are next on tap for the pair, albeit their ability to exert a noticeable reaction in the pair remains unclear.
EUR/USD key levels
At the moment the pair is retreating 0.94% at 1.1408 with the next support at 1.1396 (low Aug.25) ahead of the psychological level at 1.1300 and finally 1.1240 (low Aug.21). On the flip side, a breakout of 1.1562 (high Aug.26) would target 1.1714 (high Aug.24) en route to 1.1786 (high Jan.15).