EUR/USD falls below 1.1300 and erases post-Fed gains

By FXStreet FXStreet (Córdoba) – EUR/USD finally retraced completely gains triggered by the Fed on Thursday as it fell back to the 1.1300 zone during the last minutes of Friday’s session.

EUR/USD reached a 3-week peak of 1.1440 during the European session but then turned lower and even though initially found support at the 1.1350 zone, it broke lower and completed the round trip as the greenback picked up pace.

Having scored a low of At time of writing, EUR/USD is trading at 1.1293, down 1.22% on the day, having scored a low of 1.1285 in recent dealings. The pair is also on track to post a 0.34% weekly loss.

Next week, the Parliamentary Elections will take place in Greece, while on Wednesday ECB’s President Draghi will speak before the European Parliament’s Economic and Monetary Committee, in Brussels.

EUR/USD key levels

As for technical levels, next supports are seen at 1.1285 (Sep 19 low), 1.1278 (10-day SMA) and 1.1253 (Sep 11 low). On the upside, resistances line up at 1.1459 (Sep 19 high) and 1.1500 (psychological level) ahead of 1.1560 (Aug 26 high).
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Source:: FX Street