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Forex: EUR/USD dips to fresh lows

FXstreet.com (Barcelona) - The shared currency is posting fresh lows in the vicinity of 1.3050/55 on Monday, as risk appetite trends area now quickly shrinking.

“The aggressive policy response from Bank of Japan (BoJ) remains a main market driver and while the yen has weakened after the announcement, the response also triggered renewed demand for euro area bonds last week and thus added support to the euro through the European government bond market”, commented Chief Analyst at Danske Bank, A. von Mehren.

The cross is now losing 0.45% at 1.3058 facing the next support at 1.3036 (low Apr.12) ahead of 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the flip side, a breakout of 1.3138 (high Apr.11) would expose 1.3140 (MA55d) and then 1.3150 (MA100d).

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