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EUR/USD sentiment is poor and trades so - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained noted the events that took place in the US shift for the EUR/USD.

Key Quotes:

“The EUR/USD broke lower late US afternoon, trading at fresh lows near the 1.2640 level, with the pair having been on the losing side ever since early European opening”

“First, rumors that several European banks will fail the test the ECB is conducting, push the pair below the critical 1.2700 mark; then better than expected US inflation did the rest, pushing price down to 1.2660”.

“After failing at a critical resistance on Tuesday, in the 1.2845, the pair completed a 200 pips slide, which suggest the bearish trend is ready to resume”.

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