9 Oct 2014
EUR/USD threatens 1.2700
FXStreet (Edinburgh) - The selling interest seems to have taken over the markets now, with EUR/USD putting the critical 1.2700 support to the test.
EUR/USD surrendering gains
Spot is giving away earlier gains after hitting multi-day peaks bellow the 1.2800 handle, against the backdrop of a renewed interest for the US dollar. Without any particular catalyst for the ongoing correction, the EUR is looking to keep 1.2700 ahead of the speech by ECB’s Draghi. In the meantime, market participants seem to have digested Wednesday’s FOMC minutes, opening the door for a potential USD recovery.
EUR/USD key levels
At the moment the pair is losing 0.15% at 1.2718 and a breakdown of 1.2665 (10-d MA) would open the door to 1.2634 (200-h MA) and finally 1.2623 (low Oct.8). On the upside, the next hurdle lines up at 1.2816 (low Sep.22) ahead of 1.2849 (30-d MA) and then 1.2864 (high Sep.24).
EUR/USD surrendering gains
Spot is giving away earlier gains after hitting multi-day peaks bellow the 1.2800 handle, against the backdrop of a renewed interest for the US dollar. Without any particular catalyst for the ongoing correction, the EUR is looking to keep 1.2700 ahead of the speech by ECB’s Draghi. In the meantime, market participants seem to have digested Wednesday’s FOMC minutes, opening the door for a potential USD recovery.
EUR/USD key levels
At the moment the pair is losing 0.15% at 1.2718 and a breakdown of 1.2665 (10-d MA) would open the door to 1.2634 (200-h MA) and finally 1.2623 (low Oct.8). On the upside, the next hurdle lines up at 1.2816 (low Sep.22) ahead of 1.2849 (30-d MA) and then 1.2864 (high Sep.24).