EUR/USD drops further to 1.1330

FXStreet (Edinburgh) - The offered tone is growing bigger around the common currency now, with EUR/USD challenging session lows in sub-1.1340 levels.

EUR/USD softer ahead of FOMC

The pair is accelerating its intraday correction lower as market participants shift their attention to the FOMC minutes due later. The euro remains unable to pick up pace in spite of the poor US results out today, showing Industrial Production, Capacity Utilization and housing sector releases all missing forecasts during January.

In the Greek front, the final request for a loan extension by Greek authorities will be submitted tomorrow, and the ECB statement on ELA is expected later on today.

EUR/US key levels

At the moment the pair is losing 0.68% at 1.1338 with the next support at 1.1320 (low Feb.16) ahead of 1.1303 (low Feb.12) and finally 1.1300 (psychological handle). On the upside, a breakout of 1.1450 (high Feb.17) would aim for 1.1486 (high Feb.6) and then 1.1499 (high Feb.5).

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