FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet concluded that Monday left leaving as usual a bitter taste on the mouth of forex trading, with majors practically unchanged.
“Most traded in ranges no wider than 30 pips over this 24 hours”.
“Nevertheless, the dollar continues to stand victorious, at least in the short term, having recovered ground against most of its rivals”.
“Stocks edged slightly higher, both in Europe and the US, as no news from the Mid East hit the wires. As for the EUR/USD, the par lost the 1.3400 level, but held above 1.3370 immediate support, entering Asian session with the hourly chart showing price below 20 SMA and indicators below their midlines, for the most flat”.
“In the 4 hours chart however, price is finding intraday support at its 20 SMA currently around 1.3375, while indicators aim slightly higher above their midlines: a clear acceleration below 1.3370 is required to confirm some downward momentum, whilst the upside remains capped by 1.3430/40 price zone”.
“Support levels: 1.3370 1.3330 1.3295”.
“Resistance levels: 1.3450 1.3475 1.3500”