EUR/USD bids continue to fail; 1.3100 next?

By FXstreet.com | August 26, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3175, down -0.13% on the day, having posted a daily high at 1.3216 and low at 1.3165.



EUR/USD continues to fail on attempts against the downward momentum and Valeria Bednarik, chief analysts at FXStreet explained that in the 4 hours chart indicators head lower near oversold levels, while 20 SMA offers now intraday resistance in the 1.3220 price zone. “The dominant bearish trend supports further slides ahead, looking for a test of the 1.3100 figure during the upcoming session”. Meanwhile, Looking to a daily chart, we see that RSI is neutral at 24.14 and oversold while the 200 SMA is currently at 1.3200, down from 1.3296 at the last period close, and declining on the hourly EUR/USD chart.



EUR/USD support and resistance levels



Support levels: 1.3160 1.3125 1.3090



Resistance levels: 1.3185 1.3220 1.3250



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