Euro collapsed to Lowest Positions Since September 2010

On Monday the euro exchange rate against the U.S. dollar reached disappear into the lowest position since September of 2010 (01/09). The euro bounced against the dollar and the yen weakened after stock markets in Asia have been hit slowly due to weakening of the opening of Wall Street at the end of trading last week. Fears of a worsening crisis in Europe again controlled the market sentiment.

Concerns about the condition of Europe higher after Hungary's credit rating downgraded to junk level. Although not a member of the euro area, this decrease is still an impact on the performance of the currency.

US dollar currently in the strengthened momentum after a U.S. economic data released late last week showed a solid condition. Dollar strengthen momentum with sluggish sentiment towards Europe provide significant pressure against the euro.

In today's trading euro was decreasing until it reaches the position of 1.2674 dollars. The position is the lowest since September 10, 2010. But the euro has been a visible attempt to rebound and reach the position of 1.2688 dollars. At the end trading of last week the euro position at 1.2717 dollars.

Analysts predict that the movement of euro in trading today will tend to decrease even further limited. The movement of euro rebounded apparently still not convincing. This currency is expected to try to test support levels - resistance in the range 1.2645 - 1.2720 dollars.

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