Eurodollar Facing Downside Risk as Key Level Looms

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Euro has felt the wrath of the bullish US Dollar in the past week as the hawkish rhetoric from the Federal Reserve starts to bite. However, what has been an orderly retreat could become a rout as the Euro nears a key technical level and the bears come out to play. Despite the growing selling activity swirling around the currency pair, the EUR/USD has so far managed to remain relatively buoyant trading around the 1.0760 level. However, the pair has been as low as 1.0672 during the early

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