FXstreet.com (Barcelona) - The EUR/USD is extending its decline during the European session below yesterday’s low of 1.2213. The 1.2200 ground is the first target to break ahead of the parallel taken from the top of the triangle at 1.2187. The 200-month moving average would be a very strong support for the pair, at 1.2058.
Ahead at 08:00 GMT is the ECB’s monthly report. The central bank’s zero deposit rate could also be having an impact on the Euro weakness as TD Securities analysts expect: “So we would need to see deposits parked at the ECB to fall meaningfully below €680bn or so to prove that the cut in the deposit rate is having an immediate impact (whether the impact is exactly what the ECB wanted or not)”.
“The currency pair EUR/USD continues its downward trend and we expect to test 1.2150. Only eventual break above 1.2406 could change negative attitudes”, wrote Deltastock.com analyst Stoyan Mihaylov.
Ahead at 08:00 GMT is the ECB’s monthly report. The central bank’s zero deposit rate could also be having an impact on the Euro weakness as TD Securities analysts expect: “So we would need to see deposits parked at the ECB to fall meaningfully below €680bn or so to prove that the cut in the deposit rate is having an immediate impact (whether the impact is exactly what the ECB wanted or not)”.
“The currency pair EUR/USD continues its downward trend and we expect to test 1.2150. Only eventual break above 1.2406 could change negative attitudes”, wrote Deltastock.com analyst Stoyan Mihaylov.
