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EUR/USD trades below 1.2800 for first time since July 2013

FXStreet (San Francisco) - The EUR/USD completed its 1.2800 break just a few minutes ago following a 75-pip decline from 1.2860 to trade at 1.2785, lowest since July 2013.

Currently, EUR/USD is trading at 1.2798, down 0.36% on the day, having posted a daily high at 1.2865 and low at 1.2786. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.

EUR/USD sentiment

The EUR/USD triggered "1.2800 barriers with relative ease," comments Jamie Coleman from FXBeat. He thinks that "1.2755, the June 2013 low is next target. Barriers are seen just below that level."

On the upside, 1.2820, 1.2860 and 1.2900 are resistances.

USD/CAD range trading on the day - TD Securities

The TD Securities team of economists point out that due to a lack of Canadian economic releases today, USD/CAD price action will depend on flows and market-moving events.
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