Back
22 Apr 2016
EUR/USD breaks below 1.1230, eyes 1.1200
The US dollar gained momentum during the American session and rose across the board hitting fresh highs while gold plummeted. EUR/USD dropped below the 1.1230 area (last week low) and fell to 1.1216, reaching the lowest level in three weeks.
The euro remains near the lows, under pressure against the US dollar and also versus the pound. In the market, the weakest currency continues to be the yen, with USD/JPY approaching 112.00 and EUR/JPY holding above 125.00.
EUR/USD extends weekly losses
A consolidation of the euro below 1.1230 could open the doors for further losses. The area around 1.1200 seems to be exposed ahead expected to be challenged on Friday or early next week, ahead of the FOMC decision on Wednesday.
It is the second weekly decline in a row for EUR/USD, that continues to retreat after being unable to break clearly above 1.1450 earlier in April. The pair trades at 1.1219, down 0.60% for the day, losing ground for the third day in a row.
The euro remains near the lows, under pressure against the US dollar and also versus the pound. In the market, the weakest currency continues to be the yen, with USD/JPY approaching 112.00 and EUR/JPY holding above 125.00.
EUR/USD extends weekly losses
A consolidation of the euro below 1.1230 could open the doors for further losses. The area around 1.1200 seems to be exposed ahead expected to be challenged on Friday or early next week, ahead of the FOMC decision on Wednesday.
It is the second weekly decline in a row for EUR/USD, that continues to retreat after being unable to break clearly above 1.1450 earlier in April. The pair trades at 1.1219, down 0.60% for the day, losing ground for the third day in a row.