EUR/USD sinks to lows near 1.1270

By FXStreet The shared currency is now losing altitude vs. the dollar, with EUR/USD now posting fresh daily lows near 1.1270.

EUR/USD lower post-European open

A positive open of the European equity markets today has added further selling pressure to the shared currency, forcing spot to give away further ground and to print new daily lows in the 1.1270/60 band.

While risk aversion continues to ebb, market participants will shift their focus on EMU’s flash GDP figures during the fourth quarter (0.3% QoQ exp.) and Retail Sales (0.1% exp.) across the pond due later in the NA session.

EUR/USD levels to watch

The pair is now retreating 0.39% at 1.1281 and a breach of 1.1055 (200-day sma) would open the door to 1.1021 (20-day sma) and finally 1.0964 (100-day sma). On the flip side, the next up barrier lines up at 1.1460 (monthly high Sep.18) ahead of 1.1496 (monthly high Oct.15) and finally 1.1713 (post-PBoC high Aug.24).
For more information, read our latest forex news. …read more

Source:: FX Street