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2 Jan 2015
EUR/USD tests 1.2000 for the first time since June 2010
FXStreet (San Francisco) - The Euro is extending its decline against the US dollar and after falling 30 pips in the last hour, the EUR/USD is testing the 1.2000 area for the first time since June 2010.
Currently, EUR/USD is trading at 1.2009, down 0.76% on the day, having posted a daily high at 1.2109 and low at 1.2000. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/USD sentiment
“The combination of ECB policy settings, Greek political uncertainty, a fragile recovery and the contrast with the US all point to a lower EUR/USD for now”, mentioned Brian Martin, analyst at ANZ.
Below the 1.2000, the EUR/USD will find supports at 1.2160 and 1.2150. To the upside, resistances are at 1.2030, 1.2060 and 1.2100.
Currently, EUR/USD is trading at 1.2009, down 0.76% on the day, having posted a daily high at 1.2109 and low at 1.2000. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/USD sentiment
“The combination of ECB policy settings, Greek political uncertainty, a fragile recovery and the contrast with the US all point to a lower EUR/USD for now”, mentioned Brian Martin, analyst at ANZ.
Below the 1.2000, the EUR/USD will find supports at 1.2160 and 1.2150. To the upside, resistances are at 1.2030, 1.2060 and 1.2100.