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17 Apr 2014
EUR/USD extends decline to daily lows
FXStreet (San Francisco) - The Euro is extending its decline against the US Dollar and after losing 35 pips from 1.3865, the EUR/USD broke below 1.3850 and it is trading around 1.3825 daily lows.
Better than expected Philly Fed Manufacturing index, +16.6 in March (10.0 expected), is fueling the US dollar across the board.
Currently, EUR/USD is trading at 1.3830, up 0.11% on the day, having posted a daily high at 1.3865 and low at 1.3814. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
EUR/USD levels to watch
If the pair remains below the 1.3835 area, next supports are at 1.3810 and 1.3790. On the other hand, 1.3850 and 1.3865 are resistances.