26 May 2015
EUR/USD challenges 1.0900
FXStreet (Edinburgh) - The offered tone is gathering pace around the single currency on Tuesday, with EUR/USD now looking to test the key 1.0900 support.
EUR/USD softness accelerates
Spot is extending its decline further during the first half of the week, this time approaching the 1.0900 handle against a backdrop of increasing buying interest around the greenback.
Greek woes plus the re-emergence of the bid tone in the US dollar following last Friday’s US CPI figures remain as the main drivers of the pair’s downside, which is now testing 4-week lows and shedding almost six big-figures since recent peaks near the 1.15 handle.
EUR/USD levels to consider
As of writing the pair is down 0.54% at 1.0919 with the immediate support at 1.0882 (61.8% of 1.0521-1.1468) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).
EUR/USD softness accelerates
Spot is extending its decline further during the first half of the week, this time approaching the 1.0900 handle against a backdrop of increasing buying interest around the greenback.
Greek woes plus the re-emergence of the bid tone in the US dollar following last Friday’s US CPI figures remain as the main drivers of the pair’s downside, which is now testing 4-week lows and shedding almost six big-figures since recent peaks near the 1.15 handle.
EUR/USD levels to consider
As of writing the pair is down 0.54% at 1.0919 with the immediate support at 1.0882 (61.8% of 1.0521-1.1468) ahead of 1.0860 (low Apr.28) and then 1.0785 (low Apr.24). On the other hand a breakout of 1.0984 (high May 26) would target 1.1062 (low May 20) en route to 1.1208 (high May 22).