EUR/USD Fell More than 100 Pips as European Session Starts
The Bloc pair reached as high as 1.2542 in the Asian session, after it fell from as low as 1.2288, the lowest for almost 2 year, it was mid July 2010 when EUR/USD was last seen playing at this price mark.
The upward movement of the major pair did not last long. After it fell down a bit throughout the rest of the Asian session, the pair nose dive in the start of the European session. It dops down to 1.2415, the lowest today, more than a hundred pips were lost.
Slobodan Drvenica a Windsor Brokers Market Analyst said id his article, “This morning’s corrective easing tests initial support at 1.2500, with more significant level at 1.2450 zone, last Friday’s post-data peaks / Fib 38.2% and 55 day EMA, required to contain dips and keep near-term bulls in play. Otherwise, break here would weaken the structure”.