Back
20 Nov 2013
EUR/USD slumps on ECB headlines
FXstreet.com (Córdoba) - The EUR/USD slumped and broke below the 1.3500 mark amid media reports saying that the European Central Bank is considering implementing a -0.1% deposit rate if more easing is needed.
EUR/USD breaks below 1.3500
Headlines are fueling some analysts' speculations that next step for ECB would be implementing negative deposit rates to boost liquidity in the Eurozone. The EUR/USD, which was trading nearly flat around 1.3540, dropped more than 60 pips and hit a low of 1.3467 so far. At time of writing, EUR/USD is trading at the 1.3470 zone, recording a 0.5% loss Wednesday, and well below its 3-week peak of 1.3576 scored during the Asian session.
EUR/USD levels to watch
On the downside, key support stands at 1.3455, which is the 10-day SMA, while key resistance for the EUR/USD would be 1.3576 (daily high).
EUR/USD breaks below 1.3500
Headlines are fueling some analysts' speculations that next step for ECB would be implementing negative deposit rates to boost liquidity in the Eurozone. The EUR/USD, which was trading nearly flat around 1.3540, dropped more than 60 pips and hit a low of 1.3467 so far. At time of writing, EUR/USD is trading at the 1.3470 zone, recording a 0.5% loss Wednesday, and well below its 3-week peak of 1.3576 scored during the Asian session.
EUR/USD levels to watch
On the downside, key support stands at 1.3455, which is the 10-day SMA, while key resistance for the EUR/USD would be 1.3576 (daily high).