Euro deteriorates to One-Month Low

The euro fell for a third day against the dollar, impending a one-month low, as traders furthered bets the European Central Bank(ECB) will reduce interest rates, decreasing the appeal of the area’s assets. Euro-the 16-nation currency was close to the lowest in a month against the Japanese yen. NZD also fell the most in three weeks .euro is expected to fall further, according to experts. The forex market is currently focusing on how much the ECB rates will fall as compared to the rest central banks.

EUR/USD Intraday outlook for today

Support for the Day: - 1.3308 and 1.3285(main), where alteration is possible. Break could give 1.3264, where alteration also might be possible. Then follows 1.3233. Break of the concluding would end result in 1.3204. If a strong desire, we would see 1.3180. Carry-over will give 1.3163 and 1.3142.

Resistance for the Day: - 1.3503, 1.3544 and 1.3590(main). Break could give 1.3633, where an alteration is possible. Then comes 1.3667. Break of the concluding would outcome in 1.3682. If a strong desire, we could see 1.3736. Continuation will give 1.3770.

The euro is predicted to decline to $1.25 by next week.