EUR/USD consolidates at 8-month lows around 1.3455

By FXstreet.com | July 22, 2014 AAA

FXStreet (San Francisco) - After falling around 75 pips from 1.3530 throughout the European and American session, the EUR/USD broke below the 1.3500 area and it is testing now lows since November 21 at 1.3455.



The EUR/USD is now trading in consolidation mode around 1.3465. The pair is now down 0.41% on the day, having posted a daily high at 1.3530 and low at 1.3455. EUR/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.



EUR/USD sentiment



"Now that EUR/USD has a bit of downward momentum, it will be interesting to see if Panda and Co. are as aggressive in protecting barriers," Jamie Coleman from FXBeat points out. "For the sake of establishing a trend. I hope not... But with volatility low, they could easily stop this mini-slide in it's tracks..."



If the pair breaks below the 1.3455, next supports would be 1.3450 and 1.3430. On the upside, EUR/USD would find resistances at 1.3490, 1.3500 and 1.3540.



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