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30 Dec 2014
EUR/USD hits a new 2-1/2 year low
FXStreet (Mumbai) - The single currency plunged to the lowest level since August 2012 against the US dollar in the Asian morning, as Greece political uncertainties continue to drag the Euro lower.
Currently, the EUR/USD pair trades at 1.2140 levels, down -0.12% on the day, after having hit a fresh two and a half year lows of 1.2132 levels few minutes ago. The single currency is expected to remain under pressured versus the US dollar on fresh political upheaval in Greece as markets now fear that, with unsuccessful presidential elections, the popularity of the anti-austerity party Syriza may derail Greece from its reform path. This may cause Greek’s exit from the Euro zone imminent.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2162 (Today’s High) levels, above which gains could be extended to 1.2184 (Dec 28 High) levels. On the flip side, support is seen at 1.21 levels, below which it could extend losses to 1.2041 (July 2012) levels.
Currently, the EUR/USD pair trades at 1.2140 levels, down -0.12% on the day, after having hit a fresh two and a half year lows of 1.2132 levels few minutes ago. The single currency is expected to remain under pressured versus the US dollar on fresh political upheaval in Greece as markets now fear that, with unsuccessful presidential elections, the popularity of the anti-austerity party Syriza may derail Greece from its reform path. This may cause Greek’s exit from the Euro zone imminent.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.2162 (Today’s High) levels, above which gains could be extended to 1.2184 (Dec 28 High) levels. On the flip side, support is seen at 1.21 levels, below which it could extend losses to 1.2041 (July 2012) levels.