EUR/USD trades under $1.4600

Market news

5 May 2011

EUR/USD trades under $1.4600

Losses extend to below $1.4600 area now as the rout continues and as model accounts continue to unwind euro longs set in recent days, the pair now on approach to $1.4580 that is the value of the 21d ma. Euro pauses for now around $1.4585, returns to $1.4600 as bounces remain shallow. Break under $1.4580 will open the way to $1.4500-4490.

Dow -22.67 at 12701.14, Nasdaq +16.28 at 2844.51, S&P +0.38 at 1347.51

Dow -56.99 at 12666.59, Nasdaq -5.89 at 2822.23, S&P -6.55 at 1340.77

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