EUR/USD bounces off 2014 lows

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Córdoba) - After posting fresh 2014 lows weighed by negative readings of German factory orders, the EUR/USD managed to bounce and erased intraday losses.



The EUR/USD found buyers after hitting a fresh minimum of 1.3348 and managed to trim losses even as the negative sentiment dominates financial markets Wednesday. The pair reached a session high of 1.3374 and it is currently trading at 1.3365, still a few pips below its opening price.



EUR/USD levels to watch



In terms of technical levels, immediate supports are seen at 1.3344 (Nov 11 low), 1.3317 (Nov 8 low) and 1.3300 (psychological level). On the other hand, resistances could be found at 1.3411 (10-day SMA), 1.3444 (Aug 1 high) and 1.3475 (Jul 25 high).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD stabilizing near 1.0850

  2. Forex News

    EUR/USD points to 1.05 on a 12-m view - Rabobank

  3. Forex News

    EUR/USD takes a breather below 1.0900

  4. Forex News

    EUR/USD weighed down by an upbeat US NFP – FXStreet

  5. Forex News

    EUR/USD might bounce from 1.0850/60 – FXMarketAlerts

Trading Center