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19 Mar 2014
EUR/USD keeps falling, 1.3800 eyed?
FXStreet (Edinburgh) - The EUR sell-off is gathering steam now, pushing the EUR/USD to challenge the proximities of 1.3810/00.
EUR/USD down it goes
The pair is already losing more than a cent while Yellen’s press conference continues to give (bigger) wings to the greenback. Amongst the salient points, the Fed’s Chairwoman reiterated that QE would be finished by fall and that there is still a lot to do regarding jobs and inflation, emphasizing the need for highly accommodative policy. Yellen also said that despite the unemployment rate is a good indicator, it may not be effective enough and that is why further information is needed. The Committee also expects that weather-induced results would be diminishing in the near term.
EUR/USD levels to consider
As of writing the pair is losing 0.82% at 1.3819 with the next support at 1.3805 (21-d MA) ahead of 1.3721 (low Mar.6) and then 1.3707 (low Mar.5). On the upside, a break above 1.3884 (10-d MA) would clear the way to 1.3935 (high Mar.19) and finally 1.3944 (high Mar.18).
EUR/USD down it goes
The pair is already losing more than a cent while Yellen’s press conference continues to give (bigger) wings to the greenback. Amongst the salient points, the Fed’s Chairwoman reiterated that QE would be finished by fall and that there is still a lot to do regarding jobs and inflation, emphasizing the need for highly accommodative policy. Yellen also said that despite the unemployment rate is a good indicator, it may not be effective enough and that is why further information is needed. The Committee also expects that weather-induced results would be diminishing in the near term.
EUR/USD levels to consider
As of writing the pair is losing 0.82% at 1.3819 with the next support at 1.3805 (21-d MA) ahead of 1.3721 (low Mar.6) and then 1.3707 (low Mar.5). On the upside, a break above 1.3884 (10-d MA) would clear the way to 1.3935 (high Mar.19) and finally 1.3944 (high Mar.18).