Tuesday, September 22, 2015

EUR/USD breaks below 1.1200

FXStreet (Córdoba) - EUR/USD extended intraday weakness and dropped below the 1.12 mark to hit fresh 11-day lows, after staging a sharp setback from post-FOMC highs at 1.1459.

The dollar has continued to recover ground against the euro, dragging EUR/USD below the 200-day SMA to a low of 1.1185 in recent dealings, with no clear catalysts for the move. EUR/USD is currently trading at 1.1190, 0.88% or 100 pips below Friday’s close.

EUR/USD levels to watch

As for technical levels, EUR/USD could find next supports at 1.1171 (Sep 10 low) and 1.1147 (100-day SMA). On the other hand, resistances are seen at 1.1217 (200-day SMA) and 1.1329 (Sep 21 high).
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