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Forex pairs in this Article » EUR/USD (Córdoba) - Following 2 days of sideways consolidation, the EUR/USD came under pressure amid broad USD strength Wednesday.

The EUR/USD fell to a fresh post-payrolls low of 1.3608 during the European session but found support at the 55-day SMA and even managed to bounce following a solid Eurozone trade balance reading. However, with the recovery being capped by the 1.3630 area, the EUR/USD was confined to a range. At time of writing, the pair is trading at the 1.3625 area, recording a 0.4% loss on the day.

EUR/USD technical outlook

"Yesterday's high at 1.3700 was the final of the corrective pattern above 1.3545 and current outlook is negative, for a slide towards 1.3395 support zone", says Stoyan Mihaylov, analyst at "Major resistance on the upside is still projected at 1.3715".
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