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Forex pairs in this Article » EUR/USD
FXStreet(San Francisco)- The Euro is extending its decline against the US Dollar bellow the 100 days MA level at 1.3550 and now the EUR/USD is trading at 1.3520, lowest since November 26.

Currently, the EUR/USD is trading at 1.3520, 0.73% down in the day. The short term perspective remains slightly bearish according to the FXStreet trend index in the 15-minute timeframe. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.

Strategists at Rabobank said the USD was thrown a curve ball by the release of the weaker than expected US December labor report last week, but it is still one of the best performing developed world currencies this month.

"The economy has expanded for ten consecutive quarters, albeit often at a lacklustre pace. On the back of simulative monetary policy, the pace of US growth is widely expected to hasten in the By the end of this year we expect the USD to have strengthened to EUR/USD 1.28."

EUR/USD bias

In terms of technical levels, EUR/USD next supports are now seen at 1.3525 (Dec 2 low) and 1.3500 (psychological level). Meanwhile, resistances could be found at 1.3600 (psychological level), 1.3620 (Jan 17 high) and 1.3650 (Jan 16 high).

"In addition to the 100-day moving average I've been prattling on about all day the 61.8% retracement of the 1.3298/1.3892 rally comes in at 1.3524," comments Jamie Coleman from FXBeat. "We are flirting with that level as we write. A close below would open the downside further."
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