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9 Aug 2013
EUR/USD extends the correction
FXstreet.com (Córdoba) - The EUR/USD deepened its correction and printed fresh lows at the beginning of the American session, as the greenback recovers some ground across the board.
EUR/USD hits fresh daily lows
EUR/USD fell to a fresh daily low of 1.3348, extending its pullback from yesterday’s 7-week high of 1.3400. However, EUR/USD found support at that level and bounced slightly to currently trade around 1.3355, 0.2% below its opening price.
EUR/USD drops amid profit taking
Sharing her expertise, Valeria Bednarik, chief analyst at FXstreet.com notes that the setback seems to be due some profit taking ahead of the weekend. “Another day of falling stocks is taking its toll, also putting high yielders under pressure”.
“Immediate support comes at 1.3340 area, where a short term ascendant trend line should attract buyers”, said the analyst. “Once below, next batch of bulls is aligned at the 1.33 level”.
EUR/USD hits fresh daily lows
EUR/USD fell to a fresh daily low of 1.3348, extending its pullback from yesterday’s 7-week high of 1.3400. However, EUR/USD found support at that level and bounced slightly to currently trade around 1.3355, 0.2% below its opening price.
EUR/USD drops amid profit taking
Sharing her expertise, Valeria Bednarik, chief analyst at FXstreet.com notes that the setback seems to be due some profit taking ahead of the weekend. “Another day of falling stocks is taking its toll, also putting high yielders under pressure”.
“Immediate support comes at 1.3340 area, where a short term ascendant trend line should attract buyers”, said the analyst. “Once below, next batch of bulls is aligned at the 1.33 level”.