4 Mar 2015
EUR/USD falls to lowest level since September 2003
FXStreet (Córdoba) - EUR/USD broke below January's floor and printed fresh 11-year lows during the American session as the greenback strengthened versus European counterparts, supported by better-than-expected ISM services data.
EUR/USD broke below the 1.1100/1.1097 support area and accelerated to a low of 1.1061, so far. At time of writing, the pair is trading at 1.1075, recording a 0.89% loss on the day.
The euro has been under pressure this week, making lower lows on a daily basis, despite strong Eurozone data. On Thursday, the European Central Bank will meet. Although no new measures are expected, Mario Draghi’s press conference at 13:30 GMT will be closely followed for details of the bond-buying programme (QE) announced in January.
EUR/USD technical levels
Trading at fresh multi-year lows, EUR/USD could now find support at 1.1045 (Sep 8 2003 low) and 1.1000 (psychological level). On the other hand, immediate resistances are seen at 1.1120 (10-hour SMA), 1.1185 (daily high) and 1.1217 (Mar 3 high).
EUR/USD broke below the 1.1100/1.1097 support area and accelerated to a low of 1.1061, so far. At time of writing, the pair is trading at 1.1075, recording a 0.89% loss on the day.
The euro has been under pressure this week, making lower lows on a daily basis, despite strong Eurozone data. On Thursday, the European Central Bank will meet. Although no new measures are expected, Mario Draghi’s press conference at 13:30 GMT will be closely followed for details of the bond-buying programme (QE) announced in January.
EUR/USD technical levels
Trading at fresh multi-year lows, EUR/USD could now find support at 1.1045 (Sep 8 2003 low) and 1.1000 (psychological level). On the other hand, immediate resistances are seen at 1.1120 (10-hour SMA), 1.1185 (daily high) and 1.1217 (Mar 3 high).