The Euro is falling moderately against the Dollar on Tuesday and failed to regain levels above 1.2300. The pair is hovering around 1.2275 and is approaching to daily lows that lie at 1.2250.
Since the beginning of the week the pair has fallen more than 130 pips and is retreating after rallying from 4-year lows at 1.1870 (June 7 low) to 1.2465 (June 21 high).
According to Valeria Bednarik, collaborator at FXstreet.com hourly indicators give no clear cue at this point “mostly flat under their mid lines, while pair still needs to break under 1.2240 to confirm a fall”.
The Euro is extending its decline against the Pound. EUR/GBP fell to 0.8283 reaching a fresh intra-day low.