FXstreet.com (Barcelona) - The shared currency is trading in the lower end of today’s range in the 1.2575 region, or circling 2-day lows, finally leaving behind the key 1.2600 mark as selling pressure is intensifying on Thursday.
As the effects of the Fed’s statement are gradually dying off, investors’ concerns are now shifting to the results of the first audit of Spanish banks, due later on.
Recall that earlier on in the European morning, softer PMI prints have undermined the euro sentiment, and the bearishness has accelerated after rumours were hovering over the markets about Moody’s downgrading several major European banks after the market closes tonight.
At the moment, EUR/USD is down 0.88% at 1.2579, with the next support at 1.2571 followed by 1.2552 and 1.2542
On the upside, a break above 1.2708 would expose 1.2744 and 1.2748
As the effects of the Fed’s statement are gradually dying off, investors’ concerns are now shifting to the results of the first audit of Spanish banks, due later on.
Recall that earlier on in the European morning, softer PMI prints have undermined the euro sentiment, and the bearishness has accelerated after rumours were hovering over the markets about Moody’s downgrading several major European banks after the market closes tonight.
At the moment, EUR/USD is down 0.88% at 1.2579, with the next support at 1.2571 followed by 1.2552 and 1.2542
On the upside, a break above 1.2708 would expose 1.2744 and 1.2748
