Ukraine hits Euro
The euro slumped against the dollar on Monday after Ukraine crisis intensifies. The euro corrected from the opening high at 1.3792 to hit the daily low in the US trading session at 1.3730. The report that personal spending rose 0.4% in January, above expectations for an increase of 0.1% added to the dollar strength.
Geopolitical issues will drive the forex market this week and traders must be very careful. As the situation remains volatile in Ukraine expect dollar strength.
Key support level at 1.3730 after that we expect a support line at 1.3711 and a very important support level at 1.3690.
Resistance should be met at 1.3790 and then at 1.3820