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26 Feb 2015
EUR/USD keeps falling, eyes on 1.1230
FXStreet (Edinburgh) - The single currency is now quickly depreciating vs. the dollar, taking EUR/USD to multi-week lows near 1.1230.
EUR/USD weaker on US data, stops
The pair intensified its sharp correction lower following the US results during January, with inflation figures tracked by the CPI and durable goods orders coming in above expectations.
The drop was also fuelled by stop-orders being triggered, relegating spot to levels last seen in late January.
EUR/USD levels to consider
As of writing the pair is losing 0.94% at 1.1256 with the next support at 1.1224 (low Jan.27) ahead of 1.1201 (76.4% of 1.1098-1.1534) and finally 1.1098 (11-year low Jan.26). On the flip side, a break above 1.1375 (Kijun Sen) would aim for 1.1390 (high Feb.25) and then 1.1450 (high Feb.19).
EUR/USD weaker on US data, stops
The pair intensified its sharp correction lower following the US results during January, with inflation figures tracked by the CPI and durable goods orders coming in above expectations.
The drop was also fuelled by stop-orders being triggered, relegating spot to levels last seen in late January.
EUR/USD levels to consider
As of writing the pair is losing 0.94% at 1.1256 with the next support at 1.1224 (low Jan.27) ahead of 1.1201 (76.4% of 1.1098-1.1534) and finally 1.1098 (11-year low Jan.26). On the flip side, a break above 1.1375 (Kijun Sen) would aim for 1.1390 (high Feb.25) and then 1.1450 (high Feb.19).