18 December 2014, 18:03  EUR/USD pair goes below 1.2270 levels

EUR/USD pair fell below 1.2270 levels after being pressurised by the SNB’s actions to defend the CHF floor and better than anticipated US weekly unemployment claims. “The EUR/USD pair remains subdued this Thursday, weighted by the surprise decision of the SNB to turn its Libor rate negative, down to -0.25% to defend EUR/CHF peg. Better than expected US weekly unemployment claims helped the pair extend its decline ahead of US opening below the 1.2270 level.” “The 1 hour chart presents a strong bearish tone, with price capped below a 20 SMA and indicators heading south below their midlines.” “In the 4 hours chart indicators also present a strong bearish momentum despite in extreme over sold territory, as price approaches this year low of 1.2240. A break below it should lead to a continued selloff, down to 1.2190 as immediate bearish target.”

© 1999-2022 Forex EuroClub
All rights reserved