Currency Analyst since 2010

EUR/USD slid to $1.3520

EUR/USD is rapidly falling on Wednesday. The pair has lost 50 pips and is now at $1.3520 (Feb. 13 high, 100-period MA at H4). Euro’s declining ahead of the publication of the FOMC meeting minutes and amidst rising concerns about the US.

Investec Capital Markets: “One month US yields rose yesterday by 17 bps to 0.34%, the highest levels since the turbulent events of October 2008, and it is also worth noting that the cost of insuring against US default has doubled in price in the last few weeks to levels not seen since the last bout of US spending squabbling at the start of this year”.

Support: $1.3500, $1.3450, $1.3400.

Resistance: $1.3550, $1.3600, $1.3560.

Chart. H4 EUR/USD

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