EUR/USD extends decline below 1.0630

17 Nis

EUR/USD continues to decline, nearing the 1.0620 level and moving away from the year's low of 1.0600 recorded at the beginning of Wednesday's Asian trading session. However, hawkish comments from Federal Reserve officials and the flow towards safe-haven assets could strengthen the US dollar and limit any short-term benefits for this currency pair. Nevertheless, attention should still be paid to the Fibonacci retracement levels of 0.5 - 0.618, as EUR/USD may correct towards this zone after the recent sharp decline and show signs of price consolidation.