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Yohay

EUR/USD Loses Support to 2 Month Low on German Weakness and Peripheral Trouble

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by
Yohay
on 05-23-2011 at 03:13 AM (320 Views)
EUR/USD started the week with big dive, and lost a critical support level. The fall to this two month low comes on the background of the political mess in Spain, the uncertainty about Greece and weak growth in Germany that weighs on the whole continent. Where will this stop? Here’s a quick update on technicals, fundamentals and what’s going on in the markets.

EUR/USD Technicals

Asian session: Active session sees an immediate downfall from the 1.4160. The fall accelerated in the European session.
Current range 1.3950 – 1.4030

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