5 Jan 2015
EUR/USD recovery capped by 1.1950
FXStreet (Córdoba) - EUR/USD is consolidating losses during the American session as stocks decline sharply in Wall Street and while crude oil plummets.
The pair bottomed during the Asian session at 1.1860 and then trimmed losses, only to pulled back again toward the lows. After German inflation data dropped to 1.1885 and rebounded, rising back above 1.1900.
The recovery was capped by the 1.1950 area and the pair was trading at 1.1925, 80 pips below Friday’s closing price. It it ends the day under 1.1910 it would post the lowest daily close since March 2006.
The pair bottomed during the Asian session at 1.1860 and then trimmed losses, only to pulled back again toward the lows. After German inflation data dropped to 1.1885 and rebounded, rising back above 1.1900.
The recovery was capped by the 1.1950 area and the pair was trading at 1.1925, 80 pips below Friday’s closing price. It it ends the day under 1.1910 it would post the lowest daily close since March 2006.