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3 Mar 2014
EUR/USD slumps to 1.3730
FXStreet (Edinburgh) - The EUR/USD now intensifies its intraday pullback to session lows around the 1.3735/30 region as geopolitical tensions escalate.
EUR/USD focus on Crimea
Developments between Russia and Ukraine are weighing on the markets at the beginning of the week, accelerating the exodus to safe haven currencies. Spot printed fresh lows in the vicinity of 1.3730, down from last week’s ytd peaks beyond 1.3820. “Consolidation or even a small pullback toward $1.3770 early in the week may be seen as a new buying opportunity ahead of the ECB meeting and US jobs data, where the early call is for an increase of about 155k. The next immediate target for the euro is the $1.3900 area that was approached just after Xmas, but it is the $1.40 area that poses the next key hurdle”, suggested analysts at BBH.
EUR/USD levels to watch
As of writing the pair is down 0.43% at 1.3742 with the immediate support at 1.3694 (low Feb.28) and then 1.3674 (21-d MA).. On the upside, a breakout of 1.3793 (high Mar.3) would aim for 1.3825 (high 2014 Feb.28) and then 1.3894 (high 2013 Dec.27).
EUR/USD focus on Crimea
Developments between Russia and Ukraine are weighing on the markets at the beginning of the week, accelerating the exodus to safe haven currencies. Spot printed fresh lows in the vicinity of 1.3730, down from last week’s ytd peaks beyond 1.3820. “Consolidation or even a small pullback toward $1.3770 early in the week may be seen as a new buying opportunity ahead of the ECB meeting and US jobs data, where the early call is for an increase of about 155k. The next immediate target for the euro is the $1.3900 area that was approached just after Xmas, but it is the $1.40 area that poses the next key hurdle”, suggested analysts at BBH.
EUR/USD levels to watch
As of writing the pair is down 0.43% at 1.3742 with the immediate support at 1.3694 (low Feb.28) and then 1.3674 (21-d MA).. On the upside, a breakout of 1.3793 (high Mar.3) would aim for 1.3825 (high 2014 Feb.28) and then 1.3894 (high 2013 Dec.27).