EUR/USD consolidating around year lows ahead of Fed Minutes - FXStreet

By | Updated August 20, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD fell to 1.3274 on Wednesday and is now consolidating around its year lows ahead of the publication of minutes from the last Fed monetary policy meeting.

Key quotes

"Technically the hourly chart shows 20 SMA with a strong bearish slope above current price, albeit indicators are slightly exhausted in oversold levels."

"Nevertheless, price seems to have no aims of correcting higher, while indicators in the 4 hours chart maintain a strong bearish momentum that support a continued decline."

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