12 Nov 2013
EUR/USD falls to fresh daily lows
FXstreet.com (Córdoba) - The EUR/USD dipped back below 1.3400 Tuesday and extended losses to fresh daily lows during the European session after Asmussen said the ECB has not yet reached limit on what it can do on interest rates.
EUR/USD weighed by Asmussen words
Dovish words from Asmussen added pressure to an already weak euro, with the EUR/USD sliding to a session low of 1.3358 from around 1.3400. However, the EUR/USD has managed to hold above the 100-day SMA which stands as immediate support at 1.3350. At time of writing, the EUR/USD is trading at the 1.3370 zone, recording a 0.3% loss on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate supports at 1.3350 (100-day SMA), 1.3316 (Nov 8 low) and 1.3295 (Nov 7 low). On the other hand, resistances could be faced at 1.3412/15 (Nov 12 & 11 highs), 1.3428 (100-hour SMA) and 1.3485 (10-day SMA).
EUR/USD weighed by Asmussen words
Dovish words from Asmussen added pressure to an already weak euro, with the EUR/USD sliding to a session low of 1.3358 from around 1.3400. However, the EUR/USD has managed to hold above the 100-day SMA which stands as immediate support at 1.3350. At time of writing, the EUR/USD is trading at the 1.3370 zone, recording a 0.3% loss on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate supports at 1.3350 (100-day SMA), 1.3316 (Nov 8 low) and 1.3295 (Nov 7 low). On the other hand, resistances could be faced at 1.3412/15 (Nov 12 & 11 highs), 1.3428 (100-hour SMA) and 1.3485 (10-day SMA).