13 Jan 2015
EUR/USD hits fresh daily lows, breaks below 1.18
FXStreet (Mumbai) - The single currency dropped against the US dollar in the mid-European session, as the US dollar bulls jumped back into the bids versus major counterparts.
Currently, the EUR/USD posts fresh daily lows at 1.1795, down -0.30% on the day, having previously posted day’s high at 1.1860. EUR/USD fell steadily as the US dollar regained upside momentum on diverging monetary policy outlooks between the US and Euro zone. The US Fed is on the path of tightening whereas the European Central Bank (ECB) are talking over several models which can be contemplated for further stimulus measures, likely to be unveiled at their upcoming meeting scheduled on Jan 22. The dollar index rose to fresh daily highs at 92.49 levels, up 0.25% on the day, at time of writing.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1875 (10-DMA) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.1753 levels, below which it could extend losses to 1.17 levels.
Currently, the EUR/USD posts fresh daily lows at 1.1795, down -0.30% on the day, having previously posted day’s high at 1.1860. EUR/USD fell steadily as the US dollar regained upside momentum on diverging monetary policy outlooks between the US and Euro zone. The US Fed is on the path of tightening whereas the European Central Bank (ECB) are talking over several models which can be contemplated for further stimulus measures, likely to be unveiled at their upcoming meeting scheduled on Jan 22. The dollar index rose to fresh daily highs at 92.49 levels, up 0.25% on the day, at time of writing.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1875 (10-DMA) levels, above which gains could be extended to 1.19 levels. On the flip side, support is seen at 1.1753 levels, below which it could extend losses to 1.17 levels.