FXStreet (Guatemala) - EUR/USD is trading at 1.3357, down -0.20% on the day, having posted a daily high at 1.3387 and low at 1.3336.

There are a number of elements to the euros decline as it flirt with yearly lows. The latest was Germany’s ZEW, 8.6 vs 18.2 expected, that confirmed a weakening economy in Germany and the Eurozone. We are in hourly neutral conditions but looking to a daily chart, we see that RSI is also giving us room to the downside, reading 35.61. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the EUR/USD short‐technicals are bearish and highlights key signals. “However the charts are warning of a lack of downside momentum; accordingly unless there is a close below last week’s low of 1.3333 the near‐term outlook is somewhat mixed. For longer‐term players, yesterday’s crossing of the 100‐day MA below the 200‐day is an important bearish signal (see chart), particularly when looked at in the context of history."

EUR/USD Levels

With spot trading at 1.3358, we can see next resistance ahead at 1.3359 (Daily Classic S2) and 1.3363 (Hourly 20 EMA). Support below can be found at 1.3349 (Weekly Classic S1), 1.3339 (Daily Classic S3), 1.3336 (Daily Low), 1.3290 (Weekly Classic S2) and 1.3247 (Weekly Classic S3).

Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!