11 Apr 2014
EUR/USD under pressure
FXStreet (Córdoba) - Following a phase of sideways consolidation, the EUR/USD came under pressure and dropped to fresh daily lows as a bout of risk aversion hit the markets.
US futures are slumping, weighing on high-yielding currencies and lifting the dollar across the board. The EUR/USD has fallen to a low of 1.3871 after failing to sustain gains above the 1.3900 mark. In the macroeconomic domain, the US will release March producer price index while Reuters/Michigan will publish the US Consumer Sentiment Index for April.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find immediate supports at 1.3871 (Apr 11 low), 1.3862 (50-hour SMA) and 1.3835 (Apr 10 low). On the other hand, resistances are seen at 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high).
US futures are slumping, weighing on high-yielding currencies and lifting the dollar across the board. The EUR/USD has fallen to a low of 1.3871 after failing to sustain gains above the 1.3900 mark. In the macroeconomic domain, the US will release March producer price index while Reuters/Michigan will publish the US Consumer Sentiment Index for April.
EUR/USD levels to watch
As for technical levels, the EUR/USD could find immediate supports at 1.3871 (Apr 11 low), 1.3862 (50-hour SMA) and 1.3835 (Apr 10 low). On the other hand, resistances are seen at 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high).