Back
11 Mar 2014
EUR/USD hits new post NFP low
FXStreet (Córdoba) - The EUR/USD began to correct lower Tuesday, pulling back from a 2-year high of 1.3914 scored right before the nonfarm payrolls Friday.
Following a rangebound day, the EUR/USD came under mild pressure and retreated to the 1.3835 area as the greenback caught a bid and stops were triggered. At time of writing, the EUR/USD is trading at the 1.3840 area, recording a 0.3% loss on the day.
EUR/USD technical outlook
"The consolidation pattern after 1.3914 peak is still underway and the intraday bias is negative, for a slide towards 1.3820 key support area", said Stoyan Mihaylov, analyst at DeltaStock.com. "The latter should provide reliable support for the next leg upwards, to 1.4000 sentiment area".
Following a rangebound day, the EUR/USD came under mild pressure and retreated to the 1.3835 area as the greenback caught a bid and stops were triggered. At time of writing, the EUR/USD is trading at the 1.3840 area, recording a 0.3% loss on the day.
EUR/USD technical outlook
"The consolidation pattern after 1.3914 peak is still underway and the intraday bias is negative, for a slide towards 1.3820 key support area", said Stoyan Mihaylov, analyst at DeltaStock.com. "The latter should provide reliable support for the next leg upwards, to 1.4000 sentiment area".