OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD dips below 1.2500

FXStreet (Edinburgh) - The shared currency has accelerated its drop vs. the greenback on Monday, now pushing EUR/USD back below the 1.2500 key support.

EUR/USD weaker, down from 1.2540

Spot gave away initial gains after climbing to the 1.2540 neighbourhood in early trade following a softer tone from the USD. However, EUR-bulls could not sustain the initial upside, prompting the current leg lower to the 1.2490/80 band. Next of note in the euro region will be the trade balance figures, ahead of the speech by ECB’s M.Draghi. “Overbought short-term conditions could lead to a pull-back towards 1.2475/80 but 1.2440 is expected to hold for a retest of the 1.2545/50 high”, suggested strategists at UOB Group.

EUR/USD key levels

At the moment the pair is losing 0.25% at 1.2496 and a breach of 1.2474 (10-d MA) would expose 1.2459 (200-h MA) and finally 1.2398 (low Nov.14). On the flip side, the next hurdle lines up at 1.2580 (hourly high Nov.17) ahead of 1.2591 (hourly high Oct.31) and then 1.2614 (low Oct.23).

AUD/USD falls below 0.8750

The Australian dollar declined from a near two-week high hit earlier today as the markets price-in a weak Australian vehicle sales data along with a slight recovery in the US Treasury yields.
Read more Previous

EUR recovers - UOB

The Research team at UOB Group see a recovery ahead in EUR/USD towards 1.2615 followed by 1.2735 level.
Read more Next
Start livechat