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23 Feb 2015
EUR/USD struggling around 1.1300
FXStreet (Edinburgh) - The European currency remains entrenched in the negative ground on Monday, with EUR/USD challenging the 1.1300 key support.
EUR/USD testing February lows
The selling tone continues unabated around the euro at the beginning of the week, dragging spot to challenge February troughs at 1.1270 (February 9th). The renewed buying interest around the US dollar keeps weighing on the pair, which remains isolated from the current developments from Greece.
No further data in the euro area following the less auspicious IFO numbers, whereas Existing Home Sales and the manufacturing index tracked by the Dallas Fed are due across the Atlantic.
EUR/USD levels to consider
As of writing the pair is retreating 0.67% at 1.1299 and a breakdown of 1.1278 (low Feb.20) would aim for 1.1270 (low Feb.9) and finally 1.1262 (low Jan.29). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).
EUR/USD testing February lows
The selling tone continues unabated around the euro at the beginning of the week, dragging spot to challenge February troughs at 1.1270 (February 9th). The renewed buying interest around the US dollar keeps weighing on the pair, which remains isolated from the current developments from Greece.
No further data in the euro area following the less auspicious IFO numbers, whereas Existing Home Sales and the manufacturing index tracked by the Dallas Fed are due across the Atlantic.
EUR/USD levels to consider
As of writing the pair is retreating 0.67% at 1.1299 and a breakdown of 1.1278 (low Feb.20) would aim for 1.1270 (low Feb.9) and finally 1.1262 (low Jan.29). On the upside, the initial barrier aligns at 1.1430 (high Feb.20) followed by 1.1450 (high Feb.19) and then 1.1486 (high Feb.6).