HomeForex UpdatesEUR/USD: Euro Hits the Lowest Since 2017, Pressured by Contemporary Wave of...

EUR/USD: Euro Hits the Lowest Since 2017, Pressured by Contemporary Wave of Danger Aversion

The Euro fell to new five-year low in European buying and selling on Thursday, following eventual break of earlier low at 1.0471, above which the pair was consolidating in previous two weeks.

Persisting threat aversion on rising financial and political uncertainty, despatched world shares sharply decrease and additional lifted the greenback, added to sturdy stress on Euro.

Contemporary weak point alerts continuation of bigger downtrend after a quick pause and produce 2017 low at 1.0340 in focus, with extension in the direction of 1.0069 (Fibo 76.4% of 0.8225/1.6039) and a parity stage, not dominated out on stronger bearish acceleration.

Shut under 1.0471 would affirm contemporary unfavourable sign, with former help to revert to stable resistance.

Res: 1.0471; 1.0500; 1.0531; 1.0577
Sup: 1.0405; 1.0365; 1.0340; 1.0300

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