The euro fell against the major currencies following the European Central Banks record
2018-04-12 02:53 pm | Resource: NEWS | No Views : 123
The euro fell against the major currencies in the European session on Thursday after the minutes of the latest monetary policy meeting showed ECB policymakers warned that increased trade protectionism and the recent appreciation of the single currency posed downside risks to eurozone growth prospects.
The mixed currency was traded against major currencies in the European session. While the price was steady against the greenback and the pound, it rallied against the yen and the franc.
The single currency fell to a two-day low of 1.5894 against the Australian dollar, compared with 1.5946 in late New York on Wednesday. On the downside, 1.56 is likely to be seen as the next support for the EUR.
The European currency fell to 1.6701 against the Kiwi, an unseen level since Jan. 24. In yesterday's close, the pair was worth 1.6804. The Euro is likely to find support around the 1.65 area.
Falling from a high of 1.5593 against the Canadian dollar, and the euro weakened to a two-month low of 1.5499. The Euro is poised to find support around the 1.52 area.
The euro fell 0.5 percent to a two-day low of 1.2315 against the dollar, from a high of 1.2380 at 8:15 pm Eastern Time. The pair was traded at 1.2367 when Wednesday's close. The euro is expected to find support around the 1.21 area.
After rising to 0.8728 against the British Pound at 4:30 am ET, the Euro fell to a 3-week low of 0.8671. The next potential support for the EUR appears around 0.85.
The euro fell to 131.96 against the yen, from an intraday high of 132.32. This can be compared to a 2 day low of 131.80 at 5:00 am ET. If the euro drops further, it is likely to be seen at 130.00 as its support level.
On the other hand, the euro stabilized against the Swiss franc, having advanced to a 3-year high of 1.1890 at 7:20 Eastern Time. EUR / CHF finished trading on Wednesday at 1.184
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term The USDJPY still faces resistance around the 112.90 level In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area Accordingly, we expect that the USDJPY will retreat to 112.19 The alternative scenario is that the USDJPY breach…
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