01.11.2013 - Spooked out of Euros but not other currencies
On this Halloween, the combination of weaker German data and dovish comments from an ECB official spooked investors out of euros. The currency is in the midst of a nosedive against the U.S. dollar that began 3 days ago. The sell-off gained momentum when investors realized that the Fed was less dovish and the ECB more dovish than they had previously anticipated. This contrast led to an adjustment in positioning seen only in the euro and Swiss Franc as the dollar is trading lower this morning against all other major currencies. Support in the EUR/USD is at 1.36 and even if this level is breached, we do not expect the currency pair to trade lower than 1.3475........................Full Article: Source