EUR/USD Visiting Fresh Lows Around 1.1350

EUR/USD Visiting Fresh Lows Around 1.1350

9 June 2016, 13:06
Roberto Jacobs
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EUR/USD Visiting Fresh Lows Around 1.1350

The common currency is accelerating its downside today, now dragging EUR/USD to fresh daily troughs in the mid-1.1300s.

EUR/USD lower on German FI

The pair saw its daily decline intensified in response to falling yields in the German money market today, where yields of the 2-year, 5-year and 10-year Bunds area extending their drop and removing an important tailwind from the recent EUR-upside.

Previously, President Draghi has emphasized the need for deeper structural reforms in the region, while earlier comments by ECB officials have ruled out a discussion on ‘helicopter money’.

EUR/USD levels to watch

The pair is now retreating 0.40% at 1.1349 and a break below 1.1318 (55-day sma) would target 1.1248 (20-day sma) en route to 1.1211 (100-day sma). On the other hand, the next up barrier lines up at 1.1416 (high Jun.8) ahead of 1.1448 (high May 11) and finally 1.1466 (high Apr.12).


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