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29 Oct 2014
EUR/USD keeps falling, testing 1.2630
FXStreet (Edinburgh) - The sell off in the EUR is intensifying now, pushing EUR/USD to challenge the area of 1.2630.
EUR/USD weak… weaker
Spot keeps breaching supports as buyers practically vanished after the FOMC announced the end of its bond-buying programme today. The pair is down more than a big-figure following the Committee’s decision, coming down from the 1.2760 region. The FOMC caught markets off guard, showing a hawkish tone when came to highlight the current recovery of the US economy, with the drop in the unemployment as one of the salient points. Regarding the timing of the first rate hike, the Committee said it still needs ‘considerable time’ for such a change in the monetary policy.
EUR/USD key levels
The pair is now down 0.70% at 1.2644 facing the immediate support at 1.2613 (low Oct.23) ahead of the psychological handle at 1.2600. On the flip side, a breakout of 1.2685 (low Oct.28) would open the door to 1.2693 (21-d MA).
EUR/USD weak… weaker
Spot keeps breaching supports as buyers practically vanished after the FOMC announced the end of its bond-buying programme today. The pair is down more than a big-figure following the Committee’s decision, coming down from the 1.2760 region. The FOMC caught markets off guard, showing a hawkish tone when came to highlight the current recovery of the US economy, with the drop in the unemployment as one of the salient points. Regarding the timing of the first rate hike, the Committee said it still needs ‘considerable time’ for such a change in the monetary policy.
EUR/USD key levels
The pair is now down 0.70% at 1.2644 facing the immediate support at 1.2613 (low Oct.23) ahead of the psychological handle at 1.2600. On the flip side, a breakout of 1.2685 (low Oct.28) would open the door to 1.2693 (21-d MA).