21 Jan 2014
EUR/USD dips below 1.3530
FXstreet.com (Edinburgh) - Increasing selling pressure around the euro is now dragging the EUR/USD to fresh 2-day lows in the boundaries of 1.3530, just soon after posting weekly highs around 1.3565.
EUR/USD waiting for ZEW
The offered bias is prevailing around the pair, at least in the European morning and before the release of the ZEW Survey in both Germany and EMU. It is worth noting that consensus expects January’s numbers to come in a better tone, helping the single currency to regain lost ground. In light of the recent correction lower, analyst Allan von Mehren at Danske Bank commented, “the cross is finally starting to feel the pressure from the Fed tapering and the steepening of the US money market curve. We continue to see significant more downside for EUR/USD in 2014”.
EUR/USD key levels
The pair is now losing 0.22% at 1.3535 with the immediate support at 1.3508 (2014 low Jan.20) ahead of 1.3490 (low Nov.25) and then 1.3463 (low Nov.22). On the flip side, a break above 1.3563 (high Jan.21) would aim for 1.3567 (high Jan.20) and finally 1.3600 (psychological level).
EUR/USD waiting for ZEW
The offered bias is prevailing around the pair, at least in the European morning and before the release of the ZEW Survey in both Germany and EMU. It is worth noting that consensus expects January’s numbers to come in a better tone, helping the single currency to regain lost ground. In light of the recent correction lower, analyst Allan von Mehren at Danske Bank commented, “the cross is finally starting to feel the pressure from the Fed tapering and the steepening of the US money market curve. We continue to see significant more downside for EUR/USD in 2014”.
EUR/USD key levels
The pair is now losing 0.22% at 1.3535 with the immediate support at 1.3508 (2014 low Jan.20) ahead of 1.3490 (low Nov.25) and then 1.3463 (low Nov.22). On the flip side, a break above 1.3563 (high Jan.21) would aim for 1.3567 (high Jan.20) and finally 1.3600 (psychological level).