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Forex: EUR/USD falls to 1.3020, fresh intra-day low

FXstreet.com (San Francisco) - The Euro is extending its decline against the US dollar as investors are trading in a risk aversion environment on China growth and Boston bombs developments. After declining around 40 pips in the last hour from 1.3060, the EUR/USD has broke down the 1.3050 level again and it has reached fresh lowest since April 9 at 1.3020.

Currently the pair is trading at 1.3030, 0.63% below opening price action. The EUR/USD is slightly bearish with indicators such as MACD, CCI and Momentum pointing lower while the Stochastic signaling neutral.

Below the 1.3020, next supports are seen at 1.3000 (psychological level) and 1.2970 (Apr 8 low). On the other hand, resistances could be found at 1.3115 (intraday high), 1.3138 (Apr 11 high) and 1.3145 (100-day SMA).

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The Dollar is trading higher on Monday as investors have been trading in risk aversion mode on China growth concerns and and Boston developments. The Yen continues with its strengthening against its major competitors.
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It’s all about risk; but Chinese GDP below expectations, and gold posting an historical daily fall against the greenback are not the only reasons below market run for safety: two explosive devices in Boston had already took 2 lives and left dozens of injured people, and “terrorism” sounds loud despite not yet confirmed.
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