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Forex: EUR/USD extends the descent below 1.3400

The bloc currency is intensifying the decline after penetrating the key mark at 1.3400 on Wednesday, as risk aversion continues to swell. The cross is thus partially retracing Tuesday’s gains that pushed the euro to fresh weekly highs in levels shy of 1.3440 against the buck.

Next on tap across the pond would be the housing data and producer prices ahead of the more relevant FOMC minutes.

EUR/USD is posting marginal gains at 1.3394 or 0.04%.
Next resistance levels align at 1.3450 (MA21d) ahead of 1.3456 (high Feb.14) and then1.3482 (hourly highs. Feb.13)
On the opposite direction, a dip below 1.3307 (low Feb.15) would open the door to 1.3286 (low Jan.24) and finally 1.3276 (MA55d).

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