10 Mar 2015
EUR/USD plunges deeper to new 12-year lows
FXStreet (Córdoba) - EUR/USD came under renewed pressure during the American session and extended losses to a fresh 12-year low.
Following a short-lived recovery attempt that was capped by the 1.0790 area, EUR/USD resumed the slide and broke below European session lows to register its lowest price since April 2003 at 1.0710.
Growing bets the Federal Reserve could raise interest rates in June are underpinning the dollar across the board. Meanwhile, renewed Greek debt concerns and ECB bond-buying program getting underway are keeping the euro undermined.
EUR/USD key levels
At time of writing, EUR/USD is trading at the 1.0720 zone, recording a 1.2% loss on the day. Immediate supports are seen at 1.0690 (Apr 11 2003 low) and 1.0640 (Apr 8 2003 low). On the flip side, bounces could find resistances at 1.0790 (intraday level) and 1.0852 (daily high).
Following a short-lived recovery attempt that was capped by the 1.0790 area, EUR/USD resumed the slide and broke below European session lows to register its lowest price since April 2003 at 1.0710.
Growing bets the Federal Reserve could raise interest rates in June are underpinning the dollar across the board. Meanwhile, renewed Greek debt concerns and ECB bond-buying program getting underway are keeping the euro undermined.
EUR/USD key levels
At time of writing, EUR/USD is trading at the 1.0720 zone, recording a 1.2% loss on the day. Immediate supports are seen at 1.0690 (Apr 11 2003 low) and 1.0640 (Apr 8 2003 low). On the flip side, bounces could find resistances at 1.0790 (intraday level) and 1.0852 (daily high).