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EUR/USD lower on Bullard comments

FXStreet (Edinburgh) - EUR/USD has slipped further today, now posting fresh daily lows in the 1.1270/65 band.

EUR/USD losses traction on Bullard

The selling interest around the pair has been accelerated a tad following comments by the President of the Federal Reserve Bank of St. Louis, James Bullard, who stated that last meeting was an appropriate time for a rate hike. He also added that the Fed could keep the accommodative policy for the next three years and that concerns over the health of the Chinese economy are ‘not news’. Bullard also argued in favour of a press conference by Chairwoman J.Yellen at every FOMC meeting.

Ahead in the session, US Existing Home Sales and the speech by Atlanta Fed President D.Lockhart will be in the limelight.

EUR/USD key levels

The pair is retreating 0.29% at 1.1268 with the initial support at 1.1258 (low Sep.15) followed by 1.1214 (low Sep.16) and finally 1.1171 (low Sep.10). On the flip side, a breakout of 1.1331 (high Sep.21) would aim for 1.1373 (high Sep.14) and then 1.1441 (high Sep.17).

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