Back
19 Dec 2013
EUR/USD extends decline under 1.3700
FXstreet.com (Córdoba) - The EUR/USD continued under selling pressure in Asian hours and reached a fresh weekly low at 1.3666. After the Fed taper decision the Euro rose above 1.3800 but it was rejected and reversed sharply, breaking below 1.3700.
On Wednesday the pair lost 90 pips, suffering the worst decline since November 20th. The close was the lowest since December 6th. From yesterday's highs to today's lows dropped so far 150 pips.
EUR/USD near important support
As the US dollar remain strong, the EUR/USD holds a bearish tone in the short-term, approaching 1.3650. “In the 4 hours chart technical readings also present a slightly bearish tone albeit dominant trend is still bullish, as long as dips continue to find buyers all the way down to 1.3660”, said Valeria Bednarik, Chief Analyst at Fxstreet.com.
On Wednesday the pair lost 90 pips, suffering the worst decline since November 20th. The close was the lowest since December 6th. From yesterday's highs to today's lows dropped so far 150 pips.
EUR/USD near important support
As the US dollar remain strong, the EUR/USD holds a bearish tone in the short-term, approaching 1.3650. “In the 4 hours chart technical readings also present a slightly bearish tone albeit dominant trend is still bullish, as long as dips continue to find buyers all the way down to 1.3660”, said Valeria Bednarik, Chief Analyst at Fxstreet.com.