EUR/USD Sinks to Lows Near 1.1440

EUR/USD Sinks to Lows Near 1.1440

5 May 2016, 11:38
Roberto Jacobs
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EUR/USD Sinks to Lows Near 1.1440

The single currency is now losing the grip vs. its American peer on Thursday, sending EUR/USD to daily lows in the mid-1.1400s.

EUR/USD lower on USD-buying

The buying interest around the greenback seems to be now gathering further traction, quickly dragging spot to test the key support area around 1.1450.

In another direction, there was no fresh news from the ECB following the release of its Economic Bulletin, keeping the status quo unchanged and reiterating its readiness to act if necessary, while confirming the economic recovery in the region.

EUR/USD levels to watch

The pair is now losing 0.37% at 1.1443 and a break below 1.1359 (20-day sma) would open the door to 1.1226 (55-day sma) and finally 1.1213 (low Apr.25). On the other hand, the initial hurdle lines up at 1.1615 (2016 high May 3) followed by 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).


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