Back
11 Mar 2015
EUR/USD toying with 1.0600
FXStreet (Edinburgh) - The shared currency now managed to leave behind recent lows vs. the greenback and is now pushing EUR/USD back to the 1.0600 neighbourhood.
EUR/USD remains in 12-year lows
After bottoming out in levels last seen in April 2003 around 1.0560, the pair gathered some traction and is now looking to recover the 1.0600 handle and beyond. However, despite occasional bullish attempts, the scenario for the EUR remains increasingly bearish, with EUR-weakness intensifying after the start of the ECB’s bond-buying scheme last Monday.
EUR/USD relevant levels
As of writing the pair is losing 0.77% at 1.0614 and a breakdown of 1.0502 (low Mar. 21 2003) would target 1.0335 (2003 low. Jan.2) en route to 1.0207 (low Dec.19 2002). On the flip side, the initial hurdle lines up at 1.0719 (hourly high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9).
EUR/USD remains in 12-year lows
After bottoming out in levels last seen in April 2003 around 1.0560, the pair gathered some traction and is now looking to recover the 1.0600 handle and beyond. However, despite occasional bullish attempts, the scenario for the EUR remains increasingly bearish, with EUR-weakness intensifying after the start of the ECB’s bond-buying scheme last Monday.
EUR/USD relevant levels
As of writing the pair is losing 0.77% at 1.0614 and a breakdown of 1.0502 (low Mar. 21 2003) would target 1.0335 (2003 low. Jan.2) en route to 1.0207 (low Dec.19 2002). On the flip side, the initial hurdle lines up at 1.0719 (hourly high Mar.11) followed by 1.0855 (high Mar.10) and then 1.0906 (high Mar.9).