Back
19 Mar 2015
EUR/USD drops to 1.0650
FXStreet (Mumbai) - The EUR/USD continues to unwind the stops-driven gains witnessed in the previous session as it fell below 1.07 levels in the early European session.
EUR/USD: Eyes 5-DMA 1.0633
The next major support is seen at the 5-DMa located at 1.0633. The pair could easily extend the drop to the said levels as the USD is being bought aggressively on the still existing possibility of an interest rate hike in June in the US. On the other hand, the ECB is still far away from the possibility of a policy tightening, given its QE program is set to run till September 2016.
EUR/USD Technical Levels
The immediate support is located at 1.0633 (5-DMA), under which losses could be extended to 1.0578 levels. On the flip side, resistance is located at 1.0682 and 1.0720 levels.
EUR/USD: Eyes 5-DMA 1.0633
The next major support is seen at the 5-DMa located at 1.0633. The pair could easily extend the drop to the said levels as the USD is being bought aggressively on the still existing possibility of an interest rate hike in June in the US. On the other hand, the ECB is still far away from the possibility of a policy tightening, given its QE program is set to run till September 2016.
EUR/USD Technical Levels
The immediate support is located at 1.0633 (5-DMA), under which losses could be extended to 1.0578 levels. On the flip side, resistance is located at 1.0682 and 1.0720 levels.