EUR/USD bounces at 1.3590; back to previous prices

By FXstreet.com | July 11, 2014 AAA

FXStreet (San Francisco) - The EUR/USD made a short trip below the 1.3600 area as the pair was attempting to extend declines from 1.3625 priced overnight.



The Euro fell to 1.3590 against the US Dollar where the pair found buying interest and it is now moving back above 1.3600.



Currently, EUR/USD is trading at 1.3608, flat on the day, having posted a daily high at 1.3626 and low at 1.3592. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.



EUR/USD sentiment



"After assurances from the central bank on BES, yields on Portuguese debt have fallen 12 bp today after rising nearly 35 bp in the prior two sessions," points out Jamie Coleman from FXBeat. "Receding jitters are helping keep EUR/USD range bound with support near 1.3590 holding the line. We're recovering now, at 1.3608. 1.3625/30 offers are seen capping near-term."



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