26 Sep 2013
EUR/USD weaker around 1.3470
FXstreet.com (Edinburgh) -The offered tone continues to intensify around the shared currency on Thursday, dragging the EUR/USD to fresh session lows around 1.3470.
EUR/USD extends its decline
The pair accelerates its intraday descent from 1.3570, retracing yesterday’s gains and thus resuming the weekly negative trend sparked after the FOMC fiasco last week. The euro faces a difficult week ahead, with the ECB gathering taking centre stage. Analysts at BTMU remain neutral on the pair, suggesting, “We suspect that ECB President Draghi will be dovish once again when he speaks on Thursday and we maintain that a rate cut before year-end is highly possible. October is probably too early though, but Draghi will no doubt try and keep those expectations alive with a dovish press conference”.
EUR/USD key levels
At the moment the pair is losing 0.36% at 1.3478 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).
EUR/USD extends its decline
The pair accelerates its intraday descent from 1.3570, retracing yesterday’s gains and thus resuming the weekly negative trend sparked after the FOMC fiasco last week. The euro faces a difficult week ahead, with the ECB gathering taking centre stage. Analysts at BTMU remain neutral on the pair, suggesting, “We suspect that ECB President Draghi will be dovish once again when he speaks on Thursday and we maintain that a rate cut before year-end is highly possible. October is probably too early though, but Draghi will no doubt try and keep those expectations alive with a dovish press conference”.
EUR/USD key levels
At the moment the pair is losing 0.36% at 1.3478 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).