EUR/USD below 1.3476 is significant

By FXstreet.com | Updated July 25, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3436, down -0.20% on the day, having posted a daily high at 1.3477 and low at 1.3427.



EUR/USD has been putting pressure on the downside for daily lows this year and Karen Jone, analyst at Commerzbank explained closing below the 1.3476 previous low was significant. “A negative bias will remain entrenched below the 1.3587downtrend. Failure here suggests on-going losses to the 1.3426 200 week ma en route to the 1.3295 November 2013 low”.



EUR/USD Levels



Current price is 1.3436, with resistance ahead at 1.3455 (Hourly 20 EMA) and 1.3462 (Weekly Classic S1. Next support to the downside can be found at 1.3427 (Daily Low), 1.3414 (Daily Classic S2), 1.3401 (Weekly Classic S2), 1.3391 (Daily Classic S3) and 1.3311 (Weekly Classic S3).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Euro Looks at Key Risk - Here is What We’re Watching

  2. Forex News

    EUR/USD maintains a short-term bearish tone – FXStreet

  3. Forex News

    EUR/USD might head towards parity by year-end – BAML

  4. Forex News

    EUR/USD: muted reaction to the US pending home sales data

  5. Forex News

    EUR/USD getting ready to jump higher, long for 1.1180 – Growth Aces

Trading Center