More from FXstreet.com

Forex: EUR/USD dips on talk of Moody’s ratings cuts

By FXstreet.com,  April 15, 2012, 08:13:00 PM EDT

FXstreet.com (San Francisco) - EUR/USD has slid to fresh 5-day lows this Monday in Asia, having reached as low as 1.3039, as risk sentiment is hit by reports that Moody's is weighing ratings cuts to 114 institutions in 16 European countries.

As Valeria Bednarik, Chief Analyst at FXstreet.com notes: "The EUR/USD trades close to the strong 1.3000/30 area, where buyers are still present limiting slides; technically the pair holds a strong bearish strong as hourly chart shows price well below 20 SMA and indicators flat in oversold levels, while in the 4 hours one there is an increasing bearish momentum."

The analyst also notes that the pair may accelerate lower only once below the past February low of 1.2970. Until then, support levels lie at 1.3030 and 1.3000. To the upside, resistance levels lie at 1.3100, 1.3140 and 1.3170. EUR/USD now trades at 1.3050 vs 1.3074 late Friday in New York.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

South Korea Helicopter on Show
South Korea Helicopter on Show      
In The Wake Of Devastation
In The Wake Of Devastation          
An Orchestra Walks Into a Bar...
An Orchestra Walks Into a Bar...    
Tutu Scoops Templeton Prize
Tutu Scoops Templeton Prize         


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.44 0.07  0.52%
F $ 14.95 0.10  0.66%
CLWR $ 3.40 0.14  4.29%
SIRI $ 3.515 0.02  0.43%
MSFT $ 34.85 0.23  0.66%
CSCO $ 24.01 0.07  0.27%
MRK $ 47.33 2.12  4.69%
PFE $ 28.78 0.08  0.28%