EUR/USD weakens

Market news

9 May 2011

EUR/USD weakens

EUR/USD drops below $1.4400 on US investment house sales, extending the corrective pullback off $1.4443 to $1.4390. Rate currently trades around $1.4397. Stops noted below $1.4395, a break to open a deeper move toward $1.4375/70. Resistance $1.4440/50, with stops above.

EUR/GBP breaks below stg0.8800 with rate extending its corrective pullback off highs of stg0.8818 to stg0.8790. Next support seen at stg0.8780.

GERMANY FINMIN: Won't comment on report Greece needs more aid.

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