Thu, 06 Jan 2011 16:39:00 +0100

Forex: EUR/USD breaks below 1.3080, 2-week low

FXstreet.com (Córdoba) – The Euro came under pressure across the board and reached fresh 2-week lows against the Dollar. EUR/USD failed to hold above 1.3100, broke below 1.3080 and fell to 1.3055, new low.

The EUR/USD is poised to test the 1.3050 low according to Fan Yang, Chief Technical Strategist at FXTimes. “As the market nears 1.3050, we should anticipate a pullback before anticipating a break below”.

Greenback gained momentum across the board in the last hours approaching to session highs against commodity currencies and trimming losses versus the Swiss Franc and the Pound.

Gold reached new lows at $1,365 as stocks in Wall Street are rising after a weak start. The Dow Jones is gaining 0.03% and the Nasdaq is up 0.30%.

Technical Analysis (2011-01-06 15:30 GMT)
EUR/USD 1.3065/1.3066 - O: 1.3346 H: 1.3357 L: 1.3341 C: 1.3356
Trend	R3: 1.3131
	R2: 1.3098
	R1: 1.3066
	S1: 1.2993
	S2: 1.3026
	S3: 1.3058