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Trading news
25 Feb 2013
Forex: EUR/USD falls to fresh 6-week low
Following a consolidation phase, the euro came under renewed pressure and resumed the slide against the greenback, having set a fresh 6-week low during the American afternoon.
Weighed by the Italian elections uncertainty, EUR/USD extended losses toward 1.3127, its lowest since Jan 10. At time of writing, the cross is trading at the 1.3130 zone, recording a 0.4% loss on the day, having been as high as 1.3318.
The latest poll on the Italian Parliamentary elections points at a tight race in the lower house vote as well as in the Senate.
On the downside the 100-hour SMA around 1.3115 stands as immediate and major support, followed by 1.3100 (psychological level). On the upside, resistances are now seen at 1.3200 and 1.3230.
Weighed by the Italian elections uncertainty, EUR/USD extended losses toward 1.3127, its lowest since Jan 10. At time of writing, the cross is trading at the 1.3130 zone, recording a 0.4% loss on the day, having been as high as 1.3318.
The latest poll on the Italian Parliamentary elections points at a tight race in the lower house vote as well as in the Senate.
On the downside the 100-hour SMA around 1.3115 stands as immediate and major support, followed by 1.3100 (psychological level). On the upside, resistances are now seen at 1.3200 and 1.3230.