Forex: EUR/USD erases gains, turns negative

FXstreet.com (Córdoba) - The euro lost momentum after reaching a fresh 7-week high of 1.3125 against the greenback and turned lower, losing the 1.3100 psychological level and slipping into negative territory for the day.

EUR/USD pulled back from the 1.3125 area, and having dropped over 60 pips within the last hours it recently printed a daily low of 1.3060, weighed by mounting speculation about possible ECB ease.

At time of writing, EUR/USD is trading at the 1.3070 zone, 0.2% below its opening price. As for technical levels, below 1.3070 the Mataf.net analyst team sees immediate supports at 1.3045 and 1.3020, while they place resistances at 1.3105, 1.3125 and 1.3175.

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