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EUR/USD breaks below 1.2700

FXStreet (Córdoba) - EUR/USD broke below 1.2700 and dropped to 1.2683, reaching a fresh daily low. The pair has erased most of the gains that followed the release of the FOMC minutes.

Earlier the pair found support at 1.2700 and bounced slightly to the upside, but weakened once again and turned to the downside, as Draghi speaks in Washington and amid a decline of equities in Wall Street, where the Dow Jones was losing 0.65%. The US dollar printed fresh highs across the board.

EUR/USD end of correction?

The pair is falling on Thursday after rising during the previous three trading days, making an important reversal from levels near 1.2800. The decline has been important but EUR/USD continues to move with a corrective bias of the bearish long term trend.

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