Eur/usd - page 344
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Another bad day for the Euro against the US dollar, 1.1000 tested but stay hard on the pair. Breaking below it will confirm more decline.
It hit support zone.
Italian, Spanish 2-Year Yields Turn Negative for First Time Ever Italian and Spanish 2-year yields sank into negative territory for the first time on Friday after European Central Bank (ECB) President Mario Draghi signaled on Thursday that the bank is about to unleash even more monetary stimulus.
Two-year yields in Italian government bonds briefly hit a record low of -0.005% in early trades on Friday, more or less the same as their Spanish counterparts. That brought the number of euro zone countries with these borrowing benchmarks below zero to seven.
Both gauges were trading around the flatline in later hours.
The single currency recorded a decline against the dollar on Friday. The session started at 1.1107 and ended 96 pips lower. The graphics continued to develop under the moving averages, while the index of relative strength remained in the oversold area. For now, the bears are leading, but the ongoing movement will need a break of the first resistance.
On Friday session the EURUSD fell with a narrow range and close in the red near the low of the day breaking thru the 200-day moving average like a knife in butter on a summer day.
After Friday strong downward move, we may expect today a small pullback to the 200-day moving average before another push downward.
The key levels to watch are 1.1097 (Resistance), the 200-day moving average at 1.1076 (resistance) and 1.0900 (support).