EUR/USD consolidates above 1.3400

By FXstreet.com | July 29, 2014 AAA

FXStreet (Córdoba) - The EUR/USD remained steady during the second half of the American session consolidating above 1.3400. The Euro finished the day trading around 1.3405/10, down 0.22% and posted the lowest daily close since November 11, 2013.



Price action remains steady ahead of the Asian session with the US dollar trading near Tuesday’s highs across the board.



EUR/USD technical outlook



Valeria Bednarik, Chief Analyst at FXStreet affirms that market sentiment is still strongly bearish with the EUR/USD,” with the hourly chart showing indicators turning flat in oversold levels, anticipating some consolidation rather than a reversal in the short term”.



“In the 4 hours chart technical readings also are bearish supportive, with short term sellers now in the 1.3440 price zone,” concludes Bednarik.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation
    Forex News

    USD/JPY Traders Await Clearer Guidance As A Doji Signals Hesitation

  2. USD/JPY is dancing around 107.00
    Forex News

    USD/JPY is dancing around 107.00

  3. USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision
    Forex News

    USD/CAD Tests Critical Barrier As Intraday Dojis Denote Indecision

  4. NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades
    Forex News

    NZD/USD Stalls At 0.8000 Barrier As A Doji Arises & Volume Fades

  5. EUR/USD sidelined above 1.2700
    Forex News

    EUR/USD sidelined above 1.2700

Trading Center