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20 May 2015
EUR/USD visiting 1.1080
FXStreet (Edinburgh) - The shared currency remains on the negative footing on Wednesday, with EUR/USD now printing fresh lows in the 1.1080/75 band.
EUR/USD in 3-week lows
The pair is now accelerating its downside, quickly leaving behind the 1.1100 key level and turning its focus on the critical support (previous resistance) band at 1.1050/80, which is regarded as the last defense ahead of lower supports at 1.0700 and then 1.0500.
While the ECB comments on Tuesday keep the selling pressure well and sound around the euro, the lack of progress in the debt talks between Greece and its EU creditors are also collaborating with the downbeat sentiment ahead of the upcoming EU Leaders Summit in Riga.
EUR/USD relevant levels
As of writing the pair is down 0.66% at 1.1076 with the next support at 1.1067 (low May 5) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
EUR/USD in 3-week lows
The pair is now accelerating its downside, quickly leaving behind the 1.1100 key level and turning its focus on the critical support (previous resistance) band at 1.1050/80, which is regarded as the last defense ahead of lower supports at 1.0700 and then 1.0500.
While the ECB comments on Tuesday keep the selling pressure well and sound around the euro, the lack of progress in the debt talks between Greece and its EU creditors are also collaborating with the downbeat sentiment ahead of the upcoming EU Leaders Summit in Riga.
EUR/USD relevant levels
As of writing the pair is down 0.66% at 1.1076 with the next support at 1.1067 (low May 5) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).