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Forex pairs in this Article » EUR/USD (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that EUR/USD is still exposed to the downside.

Key Quotes

“Dollar regained its foot this Tuesday, advancing against most of its rivals and sending EUR/USD near this month low of 1.3506. Early data show EU expectations on economic conditions decreased, while FED’s watcher Hildebrand voiced another probable $10B cut in next week Central Bank meeting.”

“As for the technical picture, the hourly chart shows price developing below its 20 SMA and indicators heading lower in negative territory, while the 4 hours chart technical readings match the shorter term one, suggesting bears are in control. Mentioned low comes as immediate support and if broken, the downside is exposed towards 1.3440 strong static support zone.”

“Support levels: 1.3505 1.3485 1.3440. Resistance levels: 1.3560 1.3600 1.3630.”
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