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11 Mar 2015
EUR/USD hovers at lows, 1.0500 in sight
FXStreet (Córdoba) - EUR/USD made a marginal new 12-year low during the New York session but sellers seem reluctant to push the pair lower at the time, what has confined the pair to a slim range over the last hours.
EUR/USD hit its lowest level since March 2003 at 1.0556 as the launch of ECB QE program coupled with Greek debt concerns and expectations of a Fed rate hike in June have crushed the European currency and keep the focus on the downside.
EUR/USD has spent the last hours within 1.0556 and 1.0620, and it was last down 1.15% on the day at 1.0573. On the downside, next target holds at 1.0500.
Divergent monetary policy outlooks put EUR/USD in a long-term bearish bias, with the pair having lost more than 1000 pips, or 8.7%, over the last month, and 2000 pips, or 16%, from December highs.
EUR/USD hit its lowest level since March 2003 at 1.0556 as the launch of ECB QE program coupled with Greek debt concerns and expectations of a Fed rate hike in June have crushed the European currency and keep the focus on the downside.
EUR/USD has spent the last hours within 1.0556 and 1.0620, and it was last down 1.15% on the day at 1.0573. On the downside, next target holds at 1.0500.
Divergent monetary policy outlooks put EUR/USD in a long-term bearish bias, with the pair having lost more than 1000 pips, or 8.7%, over the last month, and 2000 pips, or 16%, from December highs.