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6 Feb 2013
Forex: EUR/USD dips to session lows around 1.3520
The shared currency is intensifying its intraday decline on Wednesday, hovering over the proximities of 1.3520/25 as bearish sentiment swells.
Market participants are gradually turning its focus on tomorrow’s ECB meeting, where a dovish tone is expected by President M.Draghi, although the refi rate is set to remain unchanged at 0.75%.
As of writing, the cross is losing 0.42% at 1.3524 with the immediate support at 1.3459 (low Feb5) ahead of 1.3415 (low Jan.29) and finally 1.3377 (MA21d).
On the upside, a breakout of 1.3598 (high Feb.5) would bring 1.3620 (intraday support Feb.4) en route to 1.3660 (high Feb.4).
Market participants are gradually turning its focus on tomorrow’s ECB meeting, where a dovish tone is expected by President M.Draghi, although the refi rate is set to remain unchanged at 0.75%.
As of writing, the cross is losing 0.42% at 1.3524 with the immediate support at 1.3459 (low Feb5) ahead of 1.3415 (low Jan.29) and finally 1.3377 (MA21d).
On the upside, a breakout of 1.3598 (high Feb.5) would bring 1.3620 (intraday support Feb.4) en route to 1.3660 (high Feb.4).