EUR/USD: Euro continues free fall

The pair EUR/USD continues to fall at the Forex currency market on Monday morning.

By 8.50 MSK the Euro is at 1.3541 against closing level of 1.3655 on Friday.

Market has received new grounds for sales: Juergen Stark resigned his post in the board of the ECB, reportedly because of disagreements over control of the regulator’s program to repurchase bonds. The Euro fell to the lows of 2011 in pairing with the Yen, amid increasing risk aversion. 

Talks between Greece, IMF and EU shall resume this week; the outcome of the dialogue will show if the Euro will be able to test 1.30 this week. Meanwhile the situation demonstrates that traders’ confidence to a unified currency is decreasing rapidly.

Most likely the pair EUR/USD will not go beyond the range of 1.3480-1.3610 at the trading session on Monday.