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15 Jul 2013
EUR/USD eases below 1.3050
FXstreet.com (Edinburgh) -Sudden selling interest in the shared currency is now dragging the EUR/USD to test fresh session lows below 1.3050.
EUR/USD lower on France rumours
A rumour involving a downgrade of France’s sovereign credit rating is doing the rounds in the European morning, hurting euro sentiment and exposing the pair to the area below 1.3050. In the opinion of Lee Hardman, Currency Analyst at BTMU, “The euro is continuing to hold up relatively well despite the ECB’s recent commitment to maintain present or lower rates for an extended period, and rising political uncertainty in the euro-zone”.
EUR/USD levels to watch
At the moment the pair is retreating 0.21% at 1.3050 and a breakdown of 12999 (low Jul.12) would open the door to 1.2982 (50% Fibo) and finally 1.2966 (low Jul.11). On the upside, resistance levels align at 1.3100 (high Jul.12) ahead of 1.3118 (MA30d) and then 1.3208 (high Jul.11).
EUR/USD lower on France rumours
A rumour involving a downgrade of France’s sovereign credit rating is doing the rounds in the European morning, hurting euro sentiment and exposing the pair to the area below 1.3050. In the opinion of Lee Hardman, Currency Analyst at BTMU, “The euro is continuing to hold up relatively well despite the ECB’s recent commitment to maintain present or lower rates for an extended period, and rising political uncertainty in the euro-zone”.
EUR/USD levels to watch
At the moment the pair is retreating 0.21% at 1.3050 and a breakdown of 12999 (low Jul.12) would open the door to 1.2982 (50% Fibo) and finally 1.2966 (low Jul.11). On the upside, resistance levels align at 1.3100 (high Jul.12) ahead of 1.3118 (MA30d) and then 1.3208 (high Jul.11).