FXstreet.com (San Francisco) - The EUR/USD has accelerated its loses in the latest few minutes and after falling 55 pips from 1.2320 the pair has broken down the 1.2300 level to trade at fresh intra-day low at 1.2265.
Currently the EUR/USD is pricing at 1.2272, 0.74% below opening price action. "EURUSD failed to take out the 1.2400+ area and today’s trade has been an expression of the disappointment," comments John J Hardy from Saxo Bank. "The pair has worked lower through the weekly pivot around 1.2307 and looks ready to fully reverse back into the old range if it can’t pick up the rally impulse late today."
“We suspect that the move higher has terminated ahead of the 2 month channel resistance at 1.2500”, wrote Commerzbank analyst Karen Jones.
Currently the EUR/USD is pricing at 1.2272, 0.74% below opening price action. "EURUSD failed to take out the 1.2400+ area and today’s trade has been an expression of the disappointment," comments John J Hardy from Saxo Bank. "The pair has worked lower through the weekly pivot around 1.2307 and looks ready to fully reverse back into the old range if it can’t pick up the rally impulse late today."
“We suspect that the move higher has terminated ahead of the 2 month channel resistance at 1.2500”, wrote Commerzbank analyst Karen Jones.
