EUR/USD had reached new lows of this year

September 18, 2014

Current trend

Yesterday, the pair EUR/USD had reached new lows of this year. Euro continued to go down at the Asian trading session, falling to the level of 1.2834. The decline in Euro against the USD was caused by outcome of the FOMC meeting and the speech by Janet Yellen. Investors believed that the US Fed would set a course for monetary policy tightening, and provided further recovery of the American economy, chances of the rise in the interest rates in the nearest future are increasing.

Support and resistance

Resistance levels: 1.2900 (important psychological level), 1.2981 (yesterday’s highs), 1.3044 (moving average with the period 21), 1.3153 (highs of 4 September).

Support levels: 1.2834 (Asian session lows), 1.2754 (lows of 7 September 2013), 1.2700 (important psychological level).

Trading tips

Short positions can be opened below the level of 0.8900 with the target of 0.8850-0.8800.

 

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