EURO feels the pain

Submitted by BBFX Analytics on Mon, 05/23/2011 - 13:50

EUR continues to feel the pressure of its current debt situation and political headline risk (IMF and Spain), with downward momentum across the board. EUR/CHF hit record lows and EUR/GBP, EUR/USD suffer early morning price fluctuations to leave the Euro reeling.

The EUR/USD Pair looks to be settling in at the 1.4050 support level after a shaky AM start, this is a pivotal range, because after the 1.3900 support the next stop could be in the high 20"s. (see weekly chart below)

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