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20 Feb 2013
Forex: EUR/USD hits fresh 1-month low
As the US dollar strengthened broadly in the wake of the latest FOMC minutes, which showed rising unease about its QE program, the EUR/USD was dragged below the 1.3300 mark and hit its lowest level in a month.
EUR/USD has fallen as low as 1.3273 so far and it is currently trading around 1.3275 where it prints a 0.8% loss on the day and remains vulnerable to further declines. An ascendant trendline coming from Jul 2012 low (1.2041) at 1.3200 is the key support ahead for the shared currency.
EUR/USD has fallen as low as 1.3273 so far and it is currently trading around 1.3275 where it prints a 0.8% loss on the day and remains vulnerable to further declines. An ascendant trendline coming from Jul 2012 low (1.2041) at 1.3200 is the key support ahead for the shared currency.