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

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Will Fed and Greek Elections Keep FX Volatility Boiling

  2. Forex News

    Dollar and S&P 500 Traders Hold Breath for Fed Decision

  3. Forex News

    Trading Video: EURUSD, EURJPY and EURGBP Ready for Greek Election

  4. Forex News

    Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

  5. Forex News

    US Session Recap: Greenback profits taken off table

Trading Center