30 Oct 2013
EUR/USD dips below 1.3700
FXstreet.com (Córdoba) - The EUR/USD slumped to fresh weekly lows as the greenback strengthened after the Fed decided to keep its monetary policy unchanged and offered few signals on when the central bank plans to begin tapering its stimulus program.
The EUR/USD lost over 80 pips in a matter of minutes and broke below the 1.3700 mark to hit a low of 1.3696 in recent dealings. However, the euro managed to quickly bounce from lows and it was last around 1.3715, recording a 0.2% loss on the day, having been as high as 1.3784 right before the statement.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate supports at 1.3662 (Oct 22 low) and 1.3650 (Oct 21 low), while resistances are seen at 1.3784 (daily high), 1.3815 (Oct 28 high) and 1.3832 (2-year high Oct 25).
The EUR/USD lost over 80 pips in a matter of minutes and broke below the 1.3700 mark to hit a low of 1.3696 in recent dealings. However, the euro managed to quickly bounce from lows and it was last around 1.3715, recording a 0.2% loss on the day, having been as high as 1.3784 right before the statement.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate supports at 1.3662 (Oct 22 low) and 1.3650 (Oct 21 low), while resistances are seen at 1.3784 (daily high), 1.3815 (Oct 28 high) and 1.3832 (2-year high Oct 25).