After one more plunging during the American opening reaching 1.3232 low, the EUR/USD retraced for a while, but a new selling wave is hitting the pair to new lows for the day. The market is addressing the cross to Nov-25 low, at 1.2312.
As Wells Fargo analyst Nick Bennenbroek states: “In the near-term and ahead of that implementation, the risk of further weakness in the euro along with other G10 and emerging currencies remains”.
“Initial resistances lie at 1.3280/1.3300, ahead of 20 day SMA, currently at 1.3320 and maintaining bear-tone”, says Windsor Brokers analyst Slobodan Drvenica, that points supports at 1.3229, 1.3211, 1.3200 and 1.3145.
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