Home EUR crashes through 1.3300 – Struggles to Claw Back

EUR crashes through 1.3300 – Struggles to Claw Back

Updated: 15 Jan. 2013 | 22:30

Speaking at an event in Luxemburg, their Prime Minister, Jean-Claude Juncker made the following comment: “the EURO foreign exchange rate is dangerously high”.

Strong selling of the EUR came after that and the currency smashed through 1.3300

Stop loss selling and long liquidation has seen the EUR fall into the 1.3280-90 range.

You gotta love politicians!!

Support now at 1.3270, then 1.3240. Resistance is now at 1.3325, then 1.3340.

For more on the euro, see the EURUSD forecast

Matthew Lifson

Matthew Lifson is a Foreign Exchange Trader and a Market Analyst. with Cambridge Mercantile Group.

View all posts by Matthew Lifson

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