Forex Special The Euro fell to 1.2309 after the opening bell at Wall Street reaching a fresh daily low against the Dollar. The pair extended its decline after being unable to break above 1.2400 during the Asian session. The recovery from the new lows has been capped so far by the 1.2335 zone.
Currently trades at 1.2324/30, 0.39% below today’s opening price.
“Holding 1.2252, 25 June higher low, keeps near-term bulls in play for possible attempt towards 1.2429, and key 1.2468, break of which is needed to resume recovery off 1.1875”, Slobodan Drvenica, analyst at Windsor Brokers Ltd said.
According to Drvenica if the pair losses the 1.2252 zone, it could fall further to 1.2208.