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EUR/USD extends decline to 1.0800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - EUR/USD broke below 1.0830 and dropped to 1.0801, hitting the lowest level since December 7. Currently it trades at 1.0810/15, down 0.95% for the day.

    So far the 1.0800 zone has offered support like it happened last week. If it drops under it would be trading at 2-week lows.

    Greenback extended gains across the board during the US session after yesterday’s rate hike by the Federal Reserve. Commodities are also falling sharply, with crude oil below $35.00 and gold around $1050/oz. Stocks in Wall Street are falling on average 1%.

    EUR/USD levels to watch

    Te immediate support it the 1.0800 handle and below where attention would turn to 1.0780/85 (20-day MA) and 1.0760 (Nov 19 high). On the opposite direction resistance might now be seen at 1.0830 (previous lows), 1.0845/50 (20-hour MA) and 1.0900 (Dec 15 low).

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