by Fri, 04 Jun 2010 21:39:00 +0200
Forex: EUR/USD dips below 1.2000 to fresh 4-year lows
FXstreet.com (Córdoba) – The Euro fell further and hit 1.1960, the lowest price since March 24 of 2006. The Dollar is rising as stocks in Wall Street tumbled. EUR/USD trades at 1.1960/65, 1.64% below today’s opening price.
The Dow Jones is falling 3.25% and the Nasdaq losses 3.50%. Crude oil tumbled to $70.70. Risk aversion intensified on Friday amid disappoints over the US employment report and concerns over the European debt crisis.
The Euro is posting losses across the board but recently managed to recover from daily lows against currencies tied to commodities.
| Technical Analysis (2010-06-04 19:33 GMT) | |
|---|---|
EUR/USD 1.1964/1.1965 - O: 1.1965 H: 1.197 L: 1.1963 C: 1.1964 | |
| Trend | R3: 1.2029 |
 | R2: 1.1999 |
| R1: 1.1970 | |
| S1: 1.1894 | |
| S2: 1.1924 | |
| S3: 1.1954 | |
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