18 Dec 2014
EUR/USD extends post Fed losses
FXStreet (Mumbai) - The EUR/USD pair continues to weaken today, extending the post Federal Reserve (Fed) policy losses ahead of the German IFO data.
The EUR/USD pair now trades 0.23% lower at 1.2314 levels, compared to the previous session’s close of 1.2343. The pair dipped below 1.23 levels for a brief moment, before recovering to trade above 1.23 levels. The slightly hawkish tone adopted by Fed chair.Yellen hurt the single currency big time since the European Central Bank (ECB) is widely expected to move in the opposite direction by implementing QE in Q1 2015.
Meanwhile, the pair may extend losses further if the German IFO data shows worsening of the business sentiment in the Eurozone’s largest economy.
EUR/USD Technical Levels
The pair has an immediate support at 1.2280, under which losses could be extended to 1.2232 levels. Meanwhile, resistance is seen at 1.2357 and 1.24 levels.
The EUR/USD pair now trades 0.23% lower at 1.2314 levels, compared to the previous session’s close of 1.2343. The pair dipped below 1.23 levels for a brief moment, before recovering to trade above 1.23 levels. The slightly hawkish tone adopted by Fed chair.Yellen hurt the single currency big time since the European Central Bank (ECB) is widely expected to move in the opposite direction by implementing QE in Q1 2015.
Meanwhile, the pair may extend losses further if the German IFO data shows worsening of the business sentiment in the Eurozone’s largest economy.
EUR/USD Technical Levels
The pair has an immediate support at 1.2280, under which losses could be extended to 1.2232 levels. Meanwhile, resistance is seen at 1.2357 and 1.24 levels.