Forex: EUR/USD drops under 1.2900

on Jul 4, 2013
Listen Thursday July 04th_: Two hours ago the EUR/USD started to fall steeply, after the price reached the descending 89-hour simple moving average, and has since shed 1.20 percent. At the moment the price is trading at 1.2888.

Further to the downside, the pair would likely target 1.2835 first, followed by 1.2820 and 1.2795.
To the upside the first obstacle is yesterday’s low of 1.2922. Next would be 1.3000, which may act as resistance.
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