EUR/USD falls to new 10-day Low

FXStreet – The currency pair EUR/USD came in the American business again under the wheels and fell to its lowest level since 28. April 1,0870. The Couple listed recently on 1,0875, and thus 0.45 percent, or 50 Pips in the Minus.

The recent slide in the currency pair may have been triggered by the strong bids around the Greenback after the Fed had declared Boss of Kansas City, Esther George, that delays in interest rate hikes risks to the economy would conjure up. At the same time, the decline in the unemployment rate would have to be worn with a tighter monetary policy. George belongs in the camp of the hawks, and is not entitled to vote in this year – yet their words gave a boost to the US Currency.

After a session high at 99,50 in early US trade, the US Dollar Index went on a consolidation course, and since he moves in a narrow sideways range. According to Georges Comments, the Index jumped again in the direction of the session highs. Finally, the Index stood at 99,46 and to 0.42 per cent in the Plus.

As the DXY has on the comments of Georege reacts, it makes the upcoming Fed-Talk is even more important. As next Fed chief Boston’s Rosengren and the Fed-chief of the Dallas Kaplan will hold their Speeches.

Technical Outlook

The next supports lie at 1,0860 (20-day line), 1,0770 (the 200-day line) and 1,0705 (100-day line). Technical Resistances are at 1,0935 (daily high), 1,10 (psychological mark) and 1,1020 (High-08. To find may).

** FXStreet News Editorial, FXStreet**

Leave a Reply