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6 Jan 2015
EUR/USD falls to fresh intraday low, breaks below 1.19 handle
FXStreet (Mumbai) - The single currency extends losses against the US dollar and hits fresh daily lows at 1897 levels in the mid-European session, after a brief rebound witnessed in the previous session.
Currently, the EUR/USD pair hits fresh intraday lows of 1.1897, dropping -0.25% on the day. EUR/USD slipped further as downbeat macroeconomic data raised speculations that European Central Bank (ECB) will move closer towards its easing agenda in the ECB monetary policy meeting due on January 22.
Moreover, concerns remained rife that opposition and anti-austerity party Syriza will win the Greek general elections in January and put an end to the country's bailout program, which further dragged down the Euro closer to nine year lows versus the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2008 (Jan 5 High) levels, above which gains could be extended to 1.2070 (10-DMA) levels. On the flip side, support is seen at 1.1858 (Jan 5 Low) levels, below which it could extend losses to 1.18 levels.
Currently, the EUR/USD pair hits fresh intraday lows of 1.1897, dropping -0.25% on the day. EUR/USD slipped further as downbeat macroeconomic data raised speculations that European Central Bank (ECB) will move closer towards its easing agenda in the ECB monetary policy meeting due on January 22.
Moreover, concerns remained rife that opposition and anti-austerity party Syriza will win the Greek general elections in January and put an end to the country's bailout program, which further dragged down the Euro closer to nine year lows versus the greenback.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2008 (Jan 5 High) levels, above which gains could be extended to 1.2070 (10-DMA) levels. On the flip side, support is seen at 1.1858 (Jan 5 Low) levels, below which it could extend losses to 1.18 levels.