Forex: EUR/USD hits levels below 1.4300 support

By IBTimes Staff Reporter | January 08 2010 2:01 AM

FXstreet.com (Barcelona) - Euro decline from 1.44.45 high on Thursday has extended during Asian session to levels below 1.4300 support, with the pair hitting session low at 1.4285, to pick up later, and return to previous range, at levels between 1.4300 and 1.4330.

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The Euro is pointing downwards on hourly charts, with support levels at 1.4280/85 (Jan 6/session low), and below here, 1.4255 (Jan 4 low) and then the 200-day MA at 1.4245. On the upside, initial resistance level lies at 1.4350/55, and once above here, the pair could find resistance at 1.4390/00 and 144.40/55 (Jan 4 /6 high)+

EUR/GBP decline from Thursday's high at 0.9025 has extended during Asian session to 0.8965 low, before picking up to levels around 0.8980 at the moment of writing.

On a wider perspective, the pair remains rangebound, consolidating between 0.8925 and 0.9025 after bouncing at 0.8855 low on Dec 31/Jan 4. Support levels are 0.8965 and 0.8910/25. Resistance levels lie at 0.9020/30 and 0.9055.

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