25 Nov 2015
EUR/USD decline halted near 1.0580
FXStreet (Edinburgh) - The selling pressure around EUR/USD seems to have found some support around the 1.0580 area on Wednesday.
EUR/USD vulnerable ahead of US data
Dovish comments from ECB officials have triggered a sharp sell off in the common currency during the morning in Europe, although buyers seems to have emegered around 1.0580, or fresh multi-month lows.
Next of relevance for the pair will be US Durable Goods Orders, followed by Personal Income/Spending and inflation figures gauged by the PCE.
EUR/USD levels to watch
As of writing the pair is losing 0.44% at 1.0598 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0805 (23.6% Fibo of 1.1496-1.0591) would open the door to 1.0829 (high Nov.12) and finally 1.1058 (200-day sma).
EUR/USD vulnerable ahead of US data
Dovish comments from ECB officials have triggered a sharp sell off in the common currency during the morning in Europe, although buyers seems to have emegered around 1.0580, or fresh multi-month lows.
Next of relevance for the pair will be US Durable Goods Orders, followed by Personal Income/Spending and inflation figures gauged by the PCE.
EUR/USD levels to watch
As of writing the pair is losing 0.44% at 1.0598 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0805 (23.6% Fibo of 1.1496-1.0591) would open the door to 1.0829 (high Nov.12) and finally 1.1058 (200-day sma).