EUR/USD Technicals Point to Downtrend
June 28, 2010 by admin · Leave a Comment
The euro declined further during the New York trading session while the Swiss franc continues to strengthen against both the dollar and the euro.
Declines in the euro are coming from concerns over liquidity shortages. European banks will be required to pay back 442B euros to the European Central Bank on Thursday and many traders worry that this will cause liquidity in the FX markets to dry up.
As such, the EUR/USD has continued its decline that began in the morning hours of the European session.
