23 May 2014
EUR/USD extends its selling mood - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, notes the undertone of the current EUR price action.
Key Quotes
"The euro continues to remain under modest downward pressure ahead of the ECB’s next policy meeting on the 5th June. The EUR/USD rate has fallen to just above its 200-day moving average which comes in at around 1.3640 which is likely to prove a key support level in the near-term."
"A break below could lead to an accelerated euro sell off in the week ahead. The EUR/USD rate has only traded briefly below its 200-day moving average since the up trend has been in place since mid-2012."
Key Quotes
"The euro continues to remain under modest downward pressure ahead of the ECB’s next policy meeting on the 5th June. The EUR/USD rate has fallen to just above its 200-day moving average which comes in at around 1.3640 which is likely to prove a key support level in the near-term."
"A break below could lead to an accelerated euro sell off in the week ahead. The EUR/USD rate has only traded briefly below its 200-day moving average since the up trend has been in place since mid-2012."