29 Feb 2016
EUR/USD breaks below 1.0900
The shared currency is extending its downside today, now helping EUR/USD to breach the key support at the 1.0900 handle.
EUR/USD in 4-week lows
Spot is retreating further on Monday, prolonging last week’s pullback to sub-1.0900 levels for the first time since early February, when it was trading near 1.1400 the figure, yearly peaks so far.
Lower than expected advanced CPI figures in the euro area during February have impacted adversely on EUR, paving the way for some kind of action by the European Central Bank on March 10 amidst increasing speculations amongst traders.
EUR/USD levels to watch
The pair is now losing 0.41% at 1.0891 and a break below 1.0867 (76.4% Fibo of December up-move) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5). On the other hand, the next hurdle aligns at 1.0971 (55-day sma) ahead of 1.1048 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move).
EUR/USD in 4-week lows
Spot is retreating further on Monday, prolonging last week’s pullback to sub-1.0900 levels for the first time since early February, when it was trading near 1.1400 the figure, yearly peaks so far.
Lower than expected advanced CPI figures in the euro area during February have impacted adversely on EUR, paving the way for some kind of action by the European Central Bank on March 10 amidst increasing speculations amongst traders.
EUR/USD levels to watch
The pair is now losing 0.41% at 1.0891 and a break below 1.0867 (76.4% Fibo of December up-move) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5). On the other hand, the next hurdle aligns at 1.0971 (55-day sma) ahead of 1.1048 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move).