fxs_header_sponsor_anchor

Breaking: EUR/USD breaks fresh 2022 lows, 1.1020

EUR/USD drops to print a fresh low of 1.1020 on the news that the Zaporizhzhia Nuclear Power Plant, a few kilometres from Enerhodar, has been attacked.

The Plant spokesman says Russian troops have begun shelling Europe's largest nuclear power station in Ukraine.

Russian forces were battling for control of a crucial energy-producing city in Ukraine’s south and closing in on the country’s largest nuclear power plant.

Russian tanks and infantry on Thursday entered Enerhodar, a city on the Dnieper River that accounts for about one-quarter of Ukraine’s power generation.

The river Dneiper runs right through the centre of Zaporizhzhia and the region is one of the most agriculturally productive in the world.

The concerns are that a large scale nuclear accident here wouldn't just be a disaster for Ukraine, it would be for the world.

“We demand that they stop the heavy weapons fire,” said Andriy Tuz, a spokesperson for the power plant in Enerhodar, which Russians have begun shelling. “There is a real threat of nuclear danger in the biggest atomic energy station in Europe.”

Ukraine's foreign minister Kuleba says Russians must immediately cease the fire, allow firefighters, establish a security zone.

''If it blows up, it will be 10 times larger than Chornobyl'' - RTRS

EUR/USD H1 chart

The price is dropping into fresh 2022 lows and 1.1020 has acted as a support, so far. However, a break there will likely open risk for a significant downside continuation to mitigate the weekly imbalance of the early 2020 summer rally. 1.0780s eyed, as follows:

Meanwhile, the yen and US dollar are picking up the safe-haven bid as seen on the 10-min CSI:

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.