EUR/USD drops to 1-week low

EURUSD

Following a phase of consolidation, the EUR/USD came under pressure and broke below the 1.3580 support zone, accelerating to fresh lows at the beginning of the American session.

Mixed US housing data had nothing to do with the drop, which started minutes before and saw the EUR/USD trigger stops and fall to a 1-week low of 1.3565. However, the pair found support ahead of the 100-day SMA and at time of writing it is trading at the 1.3575 zone, recording a 0.3% loss on the day.

EUR/USD technical levels

In term of technical levels, immediate supports are seen at 1.3555 (100-day SMA) and 1.3525 (Dec 2 low). On the other hand, resistances could be found at 1.3620 (Jan 17 high), 1.3650 (Jan 16 high) and 1.3680 (Jan 15 high).