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25 Feb 2014
EUR/USD falls down to daily lows
FXStreet (San Francisco) - The Euro is currently falling apart against the US Dollar amid risk aversion fueled by bad US economic data as well as gold touching highs, Fed's Tarullo warnings against bubbles and stop triggering.
The US consumer confidence posted a decline to 78.1 in its February index while market expected an increase. In the same line, the Richmond Fed Manufacturing posted a strong drop to -6 in Feb. from January's figures of 12 pts.
The EUR/USD fell 40 pips from 1.3760 area top trade at daily lows around 1.3715. Now the pair is pricing at 1.3720, 0.10% down in the day. The short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral.
EUR/USD levels
The EUR/USD fell to break down the 1.3740 area and to activate stop losses around 1.3730 and 200-hour MA around 1.3720; then the pair found some kind of support at 1.3715. Below the 1.3720, the EUR/USD would face supports at 1.3700 and 1.3685. On the upside, resistances are at 1.3740, 1.3760 and 1.3770.
The US consumer confidence posted a decline to 78.1 in its February index while market expected an increase. In the same line, the Richmond Fed Manufacturing posted a strong drop to -6 in Feb. from January's figures of 12 pts.
The EUR/USD fell 40 pips from 1.3760 area top trade at daily lows around 1.3715. Now the pair is pricing at 1.3720, 0.10% down in the day. The short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral.
EUR/USD levels
The EUR/USD fell to break down the 1.3740 area and to activate stop losses around 1.3730 and 200-hour MA around 1.3720; then the pair found some kind of support at 1.3715. Below the 1.3720, the EUR/USD would face supports at 1.3700 and 1.3685. On the upside, resistances are at 1.3740, 1.3760 and 1.3770.