FXstreet.com (Córdoba) - The Dollar continues to extend gains against the Euro this Wednesday in Asia; EUR/USD is trading around key support at the 1.3830 zone following a WSJ article that says "the central bank is likely to unveil a program of U.S. Treasury bond purchases worth a few hundred billion dollars over several months, a measured approach in contrast to purchases of nearly $2 trillion it unveiled during the financial crisis".
The pair first moved to the upside and hit a session high at 1.3878 but slumped afterward toward a 5-day low at 1.3817. Current price can be found at 1.3835, 0.15% below its opening price.
According to Valeria Bednarik, analyst at FXstreet.com, "breakouts will then be key for current Asian session, as below 1.3830 Tuesday, low, pair have chances of accelerating lower, targeting 1.3760/80 price zone, followed later by 1.3700/30 area; only a clear recovery above 1.3890 will suggest another attempt to regain the upside, with 1.3935 as first target to consider, followed by 1.3970 price zone".
The pair first moved to the upside and hit a session high at 1.3878 but slumped afterward toward a 5-day low at 1.3817. Current price can be found at 1.3835, 0.15% below its opening price.
According to Valeria Bednarik, analyst at FXstreet.com, "breakouts will then be key for current Asian session, as below 1.3830 Tuesday, low, pair have chances of accelerating lower, targeting 1.3760/80 price zone, followed later by 1.3700/30 area; only a clear recovery above 1.3890 will suggest another attempt to regain the upside, with 1.3935 as first target to consider, followed by 1.3970 price zone".
