OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD falls further near 1.0680

FXStreet (Edinburgh) - The selling mood around the shared currency is growing bigger today, now dragging EUR/USD to test fresh lows in the vicinity of 1.0680.

EUR/USD capped by 1.08

After the rejection from the boundaries of 1.0800 the figure on Monday, the pair has initiated a leg lower backed by increasing expectations of a rate hike by the Fed at its December meeting, along with market chatter regarding a potential deposit rate cut by the ECB next month.

ECB’s Liikanen has tried to talk down such possibility in earlier comments, arguing that the Council has still not decided on the matter.

EUR/USD levels to watch

As of writing the pair is down 0.62% at 1.0688 and a break below 1.0658 (low Apr.21) would open the door to 1.0600 (psychological level) and finally 1.0519 (low Apr.13). On the flip side, the next resistance lines up at 1.0969 (downtrend from 1.1496) ahead of 1.0988 (76.4% Fibo of 1.1496-1.0706) and then 1.1092 (200-day sma).

United States Redbook index (YoY) fell from previous 1.9% to 1.1% in November 6

United States Redbook index (YoY) fell from previous 1.9% to 1.1% in November 6
Read more Previous

GBP/USD bulls are losing their breath

GBP/USD bulls are losing their breath
Read more Next
Start livechat