20 Nov 2013
EUR/USD falls to daily lows amid Weidmann comments
FXstreet.com (Córdoba) - The EUR/USD came under renewed pressure and dipped to fresh lows during the European session amid Weidmann's comments, saying the European Central Bank is not technically at the end of its options.
ECB not at the end of its options but...
However, Weidmann offset that relatively dovish view by saying that even though moderate inflation outlook justifies expansive policy, it is not sensible to further loosen monetary policy at the moment after November rate cut.
The EUR/USD extended its pullback from a 3-week high of 1.3579 scored during the Asian session and slid to a low of 1.3515 before finding support. At time of writing, EUR/USD is trading at the 1.3520 area, recording a 0.1% loss on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate support levels at 1.3515 /daily low) and 1.3500 (psychological level) ahead of 1.3490/87 (100-hour SMA/Nov 19 low). On the other hand, resistances are seen at 1.3576 (daily high) and 1.3589 (Nov 1 high).
ECB not at the end of its options but...
However, Weidmann offset that relatively dovish view by saying that even though moderate inflation outlook justifies expansive policy, it is not sensible to further loosen monetary policy at the moment after November rate cut.
The EUR/USD extended its pullback from a 3-week high of 1.3579 scored during the Asian session and slid to a low of 1.3515 before finding support. At time of writing, EUR/USD is trading at the 1.3520 area, recording a 0.1% loss on the day.
EUR/USD levels to watch
In terms of technical levels, the EUR/USD could find immediate support levels at 1.3515 /daily low) and 1.3500 (psychological level) ahead of 1.3490/87 (100-hour SMA/Nov 19 low). On the other hand, resistances are seen at 1.3576 (daily high) and 1.3589 (Nov 1 high).