EUR/USD consolidates near fresh 8-month low

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Bali) - EUR/USD is consolidating around 1.3570 after posting a fresh 8-month low at 1.3459 on Tuesday, a key technical breakout that should now expose further downside.



Peter Fell, Analyst at FXBeat, notes: "The major support at 1.3475/80 finally gave way... another barrier is cited at 1.3450 with protection ahead... below 1.3450 would target a move to 1.3400, November 2013 low, below there, 1.3374 (50% fib on the 1.2755 / 1.3993 rise). Sell orders said to have been parked between 1.3475/85, more around 1.3500, stop loss orders above 1.3510."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD Technical Analysis: Stalling Below 1.10 Figure

  2. Forex News

    Year-end target for EUR/USD to parity - BofA

  3. Forex News

    Trading Video: US Dollar and Stocks Follow the Path of Least Resistance

  4. Forex News

    Top Events this Week Include EZ CPI, Canadian GDP, and US NFPs

  5. Forex News

    Strategy Video: Should the Fed Lead the Next Monetary Policy Phase, Again?

Trading Center