FXStreet (Córdoba) – EUR/USD ended a few pips below the 1.06 mark, posting its third daily decline in a row and its lowest weekly close since March.

While the greenback remains underpinned by prospects the Fed will hike rates next month, the euro continues to suffer on the back of prospects of more monetary stimulus in the Eurozone in the form of a deposit rate cut or expansion of the QE programme (or a combination of both). The ECB will be the first to say on Thursday, while the Fed will announce its decision on Dec 16.

Amid this backdrop of divergent policy outlooks, EUR/USD seems on track to test its 2015 lows at the 1.0460 zone.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.0565 (7-month low Nov 25), 1.0520 (Apr 13 low), 1.0500 (psychological level) and 1.0462 (2015 low Mar 13). On the flip side, immediate resistances could be found at 1.0646 (10-day SMA), 1.0700 (psychological level) and 1.0762 (Nov 19 high).

EUR/USD ended a few pips below the 1.06 mark, posting its third daily decline in a row and its lowest weekly close since March.

(Market News Provided by FXstreet)

By FXOpen